ICGB AD

Co-financed by the Europen Union, Europen Energy Programme for Recovery European Regional Development Fund Operational Program Innovation and Competitiveness

The implementation of the LNG terminal near Alexandroupolis will help fill IGB’s capacity

The successful implementation of the project for a liquefied natural gas terminal near the Greek city of Alexandroupolis is of particular importance for the IGB project, as it will create more opportunities for gas transmission through the Greece-Bulgaria interconnector. The two energy projects are being developed in full synergy, relying on the active support of both Bulgaria and Greece.

The Bulgarian government has officially declared that Bulgargaz EAD will reserve additional capacity for transmission in the interconnector Greece-Bulgaria – up to 500 million cubic meters per year for a period of 3 to 5 years. With a decision of the Council of Ministers Bulgargaz EAD will participate in the binding phase of the market test for booking capacity in the LNG terminal near Alexandroupolis, reserving up to 500 million cubic meters per year, but not less than 300 million cubic meters per year for a period of 3 to 5 years. For its part, Bulgargaz EAD is committed to contracting LNG for consumers in Bulgaria at competitive price terms through IGB. Earlier it was announced that the Bulgarian company Bulgartransgaz had signed a preliminary contract for the acquisition of 20 percent of the capital of the company developing the Greek project.

The LNG terminal has excellent synchronization with the gas pipeline project between Bulgaria and Greece because of its strategic location - the facility will be in close proximity to one of the interconnector’s entry points in the area of Komotini, Greece. This provides a technological advantage in transportation the natural gas delivered to the terminal to customers in Bulgaria through IGB

Finalizing the project will help reaching the full capacity of IGB and will provide additional natural gas to markets in Southeast Europe, offering new sources and delivery routes. Both projects are crucial for achieving diversification for Bulgaria and the Balkans, boosting competition and enhancing the security of gas supplies in the region.

For more information:
Diana Zaykova
Action Global Communications Bulgaria
Tel.: +359 2 9803018
Mobile: + 359 885 074422

Date 20/10/2020