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Five binding offers were received on a long term basis for the successfully ended on 30th November 2016 binding phase of the market test for the Gas Interconnector Greece-Bulgaria. That was announced by the Company ICGB, which is responsible for the realization of the project. The announced capacity within the second phase of the market test amounts to 2.7 bcm, 1.57 bcm of which are reserved. According to the procedure, the market test will be completed with the Advanced Reservation Capacity Agreements execution by the Companies which submitted the offers, upon approval of the relevant allocation by the National Regulatory Authorities of Greece and Bulgaria.

To whom it may concern:

The current market test is following its natural procedural process up to ARCA signature in accordance to article 2.2 of the “Updated Guidelines for management and allocation of capacity on the IGB INTERCONNECTOR according the paragraph 6 of article 36 of Directive 2009/73/EC – PHASE I: invitation of interested parties to express their interest in reserving capacity”, as published in this web site”. ARCAs are going to be executed upon approval by the NRAs of the allocation of capacity in the ongoing market test.

The deadline by which Binding Offers in the Second Phase of the IGB Market Test should be submitted to be considered valid is hereby extended from 31 October 2016 to 30 November 2016. The extension of the deadline for submission of Binding Offers is made following a relative consultation and coordination with the Energy and Water Regulatory Commission (Bulgaria) and the Regulatory Authority for Energy (Greece) and based on requests by participants in the first phase. With the exception of the deadline for submission of Binding Offers, all other terms and conditions in the Market Test documentation published hereby remain in force. The deadlines provided within the procedure are accordingly extended with one month.

Yesterday, 5th October 2016, a promotional event was held for the participants in the second, binding, phase of the market test for capacity management and allocation of IGB gas pipeline - Interconnector Greece-Bulgaria.

The second phase of the market test was officially launched on 5th August 2016 after the regulatory authorities of Bulgaria and Greece, Energy and Water Regulatory Commission and RAE officially approved the Guidelines for capacity management and allocation of IGB gas pipeline. The deadline for submission of binding offers in the second phase of the Market test is 31st October 2016.

ICGB signed a joint statement, together with Bulgarian, Greek, Romanian and Hungarian transmission operators as future operator and part of the Vertical Gas Corridor on high level group meeting of the Central and South-Eastern European Gas Connectivity organized by European Union on 8th and 9th of September 2016 at Budapest. The statement represents the united efforts of the operators to joint development of the gas transmissions networks and the building of the Vertical Gas Corridor. “That is a serious acknowledgement for Interconnector Greece-Bulgaria’s key role for energy security and diversification of sources for Europe and the region as well as a step toward inter-system connectivity”, emphasized Teodora Georgieva and Konstantinos Karayannakos, Executive Officers of ICGB AD.

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.

Important Note: The deadline by which Expressions of Interest in the IGB Market Test should be submitted to be considered valid is hereby extended from 31 March 2016 to 8 April 2016.