News

The interconnector’s capacity expansion plans to reach 5 bcm/y will be of significant importance to enable accommodating 10 bcm/y of LNG from the terminals Greece and Caspian gas through the Southern Gas Corridor to reach Moldova, Ukraine, Hungary and Slovakia

The transmission system operators from the Vertical Gas Corridor (Greece, Bulgaria, Romania, Hungary) welcomed Moldova and Ukraine to the initiative through a signed Memorandum of Understanding (MoU) during Ministerial meeting of the High-Level Group on Central and South Eastern Europe Energy Connectivity (CESEC) held in Athens.

ICGB AD informs all interested parties that in the Public Procurement Register, on the CAIS platform, in the Buyer’s Profile, the following public procurements are open and active for participation.

ICGB is now also successfully offering capacity for volumes to come from the Alexandroupolis LNG terminal, creating more flexible opportunities for new shippers to enter the local market. ICGB Executive Officer Teodora Georgieva was honored at the CEENERGY NEWS Awards 2023, which were held in Budapest, Hungary as part of the 4^th annual Budapest Climate Summit. Georgieva received the special media award for inspiring and influential leader in the energy sector for her work on developing and implementing the interconnector Greece-Bulgaria. Promoting more sustainable energy solutions, supporting energy transition, energy security and active, transparent communication with national and international media on ICGB’s operations were also recognized by the jury.

The Greece-Bulgaria interconnector may see its capacity boosted from the current 3 bcm/y to a total 5 bcm/y as early as 2025. With the incremental capacity process currently ongoing, ICGB is scheduling the next steps in coordination with adjacent transmission system operators. “With the non-binding phase of the process completed, we received indications for significant market interest in expanding the pipeline’s capacity. The binding phase will come in July 2024 – when energy traders and shippers commit to booking capacity”, said ICGB’s Executive Officers George Satlas and Teodora Georgieva during a meeting of the TSOs under the Vertical Gas Corridor (Greece, Bulgaria, Romania, Hungary).

The independent transmission system operator has received the last remaining tranche under the European energy programme for recovery after a successful audit; the total value of the project is EUR 253 million.

The independent transmission operator ICGB has utilized the final tranche under the European energy programme for recovery (EEPR) for the implementation of the Greece-Bulgaria gas interconnector. Amounting to EUR 22.1 million, it was approved after ICGB successfully underwent an external audit.

Over 16.4 million MWh have been transported through the IGB pipeline in its first year of commercial operations. Launched in line with the start of the gas year on Oct 1^st 2022, the interconnector between Greece and Bulgaria ensures a new route for secure, diversified natural gas deliveries to Bulgaria and the wider region. “Throughout its inaugural year, IGB has upheld an impeccable record, meeting all daily nominations with no major interruptions in gas flow. This achievement is due to the strict implementation of our operations procedures, but also to ICGB’s dedicated team of outstanding professionals”, said ICGB’s Executive Officers Teodora Georgieva and George Satlas.

The independent transmission system operator ICGB announces a successful completion of the non-binding phase of the incremental capacity process launched in July to assess the market interest in increasing the IGB pipeline’s total technical capacity. “The market interest for a few consecutive gas years is nearly two times higher than our initial expectations. While for now these indications are non-binding for the shippers, this is a great first step towards a potential expansion of the IGB pipeline’s capacity from 3 bcm/y to 5 bcm/y”, said ICGB Executive Officers George Satlas and Teodora Georgieva. The two discussed updates on the plans for the interconnector’s development with other TSOs in the region during an event dedicated to the Vertical Gas Corridor held in Thessaloniki, Greece.

Over 82% of the total technical capacity of the Greece-Bulgaria interconnector for the next gas year (2023-2024) has already been booked. The successful results were achieved by the independent transmission operator ICGB at the quarterly auctions held earlier, on August 7^th. Currently, for the first quarter of the upcoming gas year, the gas pipeline has booked capacity of 76%. For the remaining 3 quarters, bookings exceed 84% of the facility's total technical capacity. ICGB continues offering the remaining free capacity in both daily and monthly auctions, ensuring transparent and equal access to all interested traders.

For the first half of 2023, over 7.8 million Mwh are transported via the interconnector; 80% of the capacity for the next gas year is successfully booked. A total of 12.7 Mwh are the natural gas volumes transported through the IGB gas pipeline since the interconnector’s commercial launch on Oct 1st, 2022 up to the end of June 2023. IGB connects to the Trans Adriatic Pipeline (TAP), making Bulgaria part of the Southern Gas Corridor and enabling access to secure natural gas deliveries from diversified sources both for the country and the wider region.

The independent transmission system operator ICGB finalized with success the yearly auctions for the available capacity of the IGB pipeline for the next gas year 2023-2024. Over 70% of the offered capacity was booked and the remaining quantity will be available in quarterly, monthly, and daily auctions.