ICGB moves forward with its certification as an independent transmission operator after the national energy regulators of both Greece and Bulgaria adopted a draft joint decision for certification of the project company managing the gas interconnector.

The two regulators – RAE and EWRC - announced on Thursday that their draft joint decision is a necessary step preceding the commercial launch of the interconnector Greece – Bulgaria.

The draft joint decision will be sent to the European Commission for verification of its compliance with the European legislation before the two national regulators adopt a final joint certification decision.

The Executive Officers of ICGB Teodora Georgieva and Konstantinos Karayannakos noted this is a key step to completing the procedure. “The IGB pipeline is of great importance beyond the national borders of the two host countries given the challenging environment in the region and we are thankful that the national regulators processed our application in a shorter notice. We’re hopeful that the European Commission will also act swiftly so that the procedure can be completed under optimized deadlines”, the two Executive Officers noted.

Following the commissioning of the interconnector, ICGB will become the pipeline’s operator. This requires prior certification of the company as an independent transmission operator. The implementation of the procedure is a legal obligation and is one of the conditions of the final joint decision of the energy regulators on the exemption application of ICGB, granting exception from the requirements regarding third party access, tariff regulation and ownership unbundling.

As a future natural gas transmission operator, ICGB must ensure that it does not allow non-competitive or discriminatory behavior. To this end, the company developed a new management model of the company, including a new set of corporate rules, policies and procedures and a two-tier management system with a management board and a supervisory board.

The IGB project is of key importance for increasing security of natural gas supplies and for ensuring diversification of natural gas sources for Bulgaria and the entire region of Southeast Europe. The project will connect Bulgaria to the Southern Gas Corridor and has excellent synergy with other major energy projects such as TAP, TANAP, EastMed and the LNG terminal at Alexandroupolis.

For more information:
Diana Zaykova
Action Global Communications Bulgaria
diana.z@actionprgroup.com
+359 885 074 422
+359 885 614 131