Nine non-binding expressions of interest have been received by ICGB AD - the company responsible for implementation of Greece-Bulgaria gas pipeline
Nine non-binding expressions of interest were received during the Expression of Interest phase by ICGB AD - the company responsible for implementation of the gas pipeline Greece-Bulgaria (IGB). The expressions of interest are for a total capacity of approximately 4.3 bcm3/year for gas transmission services forward flow from Greece to Bulgaria and approximately 1 bcm3/year for gas transmission services reverse flow from Bulgaria to Greece.
The ICGB Company responsible for implementation of the gas pipeline Greece-Bulgaria announces the completion of the Expression of interest phase of the Market test held for advance capacity booking in the gas pipeline.
The deadline of the Expression of interest phase was on 8th April 2016 as per previous extensions of the deadline approved by the national regulatory authorities of Bulgaria and Greece, the Energy and Water Regulatory Commission (EWRC) and the Regulatory authority for energy (RAE) Greece, respectively.
The Expression of interest phase was launched on 14th December 2015 and was held in accordance with the Guidelines and the Expression of interest notice issued jointly by EWRC and RAE pursuant to paragraph 6 of article 36 of Directive 2009/73/EC.
‘The satisfactory result of the expression of Interest phase is a successful step for ICGB and the further development of the IGB project as part of the expected evolution of Bulgarian, Southeastern and Central and Southeastern gas market towards alternative sources and corridors for gas supply secured through provision of gas transmission services in vertical direction by the Southern Gas Corridor. The availability of transmission capacity in IGB will also provide a reliable import corridor for liquefied natural gas (LNG) from the region through the existing and planned new LNG regasification capacities in Greece’ Teodora Georgieva and Konstantinos Karayannakos , Executive officers of ICGB AD said.
The Market test will enter a second binding phase – Bidding phase after obtaining guidelines and approval from the national regulatory authorities of Bulgaria and Greece. The Bidding phase will provide a procedure which will confirm what the level of the actual booked capacity will be based on concluded agreements.
IGB Project
Gas Interconnector Greece-Bulgaria is co-financed by the European Union's
European Energy Programme for Recovery programme.
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