Bulgaria appreciates SOCAR’s participation in IGB project (exclusive)

Baku, Azerbaijan, Feb.9

By Leman Zeynalova – Trend:

Bulgaria highly appreciates the participation of Azerbaijan’s state oil company SOCAR in the market test for capacity allocation of the interconnector Greece – Bulgaria (IGB), the newly-appointed Energy Minister of Bulgaria Nikolay Pavlov said in an exclusive interview with Trend.

The minister noted that the country considers this as a further proof of the long-term strategic energy partnership between Bulgaria and Azerbaijan.

Pavlov reminded that on November 30, 2016 the second bidding phase of the market test for capacity allocation of IGB was completed.

“We are satisfied with the outcome of the market test showing increased engagement and growing market interest in the project, and this in turn is a factor for its successful implementation,” he said.

The minister pointed out that the company responsible for the implementation of the ICGB will continue to provide shippers with conditions for access to the pipeline capacity and an equal and non-discriminatory treatment of all existing and future partners.

“The participation of SOCAR in the capacity allocation market test for IGB is an expression of the strong confidence in the development of the project and its key role in the realization of the Southern Gas Corridor,” added Pavlov.

In addition, this is an expression of the expected development of the gas markets in Bulgaria, South East and Central Europe, i.e. through the diversification of sources and routes of gas supplies, according to the minister.

“We highly appreciate the participation of SOCAR in the market test as a further proof of the long-term strategic energy partnership between Bulgaria and Azerbaijan,” he added.

Azerbaijan Gas International (AGI), a 100-percent subsidiary of SOCAR, applied for pumping Azerbaijani gas through IGB in September 2016.

IGB is a gas pipeline, which will allow Bulgaria to receive Azerbaijani gas, in particular, the gas produced from Azerbaijan's Shah Deniz 2 gas and condensate field. IGB is expected to be connected to the Trans Adriatic pipeline via which gas from the Shah Deniz field will be delivered to the European markets.

The initial capacity of IGB will be 3 billion cubic meters of gas.

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Follow the author on Twitter: @Lyaman_Zeyn

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