Tenders on IGB to be held by late 2017

Tenders on IGB to be held by late 2017

Baku, Azerbaijan, Sept.13

By Leman Zeynalova – Trend:

ICGB AD, the company engaged in the implementation of the Interconnector Greece-Bulgaria (IGB) project will launch several tender procedures by the end of the year, said the message on the company’s website.

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 (TAP) 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. The project’s cost is estimated at around 240 million euros.

“Five companies, 4 of which are entirely new for the Bulgarian market, have booked capacity in the IGB pipeline. On March 10, 2017 the Agreements signed (ARCAs) were submitted to both regulators - EWRC (Bulgaria) and RAE (Greece),” said the message.

Decision by the Regulatory Authorities on the exemption procedure is expected by the end of October 2017 and the final opinion of the EU is expected by January 2018, based on which the gas transportation agreements will be signed with shippers that have booked capacity in the gas pipeline, according to the company.

“The realization of the IGB project is secured by sovereign guarantee in the amount of 110 million euros, provided in the Annual State Budget Act, which gives potential for assuring of loan financing under preferable conditions. ICGB is in negotiation process with international financial institutions for determining of the conditions but the final decision shall be dependent on the final decision of the ESIF (European Structural and Investment Funds) grant,” said the message.

As for permitting procedures, the application for construction permit on Bulgarian territory is submitted to the Ministry of Regional Development and Public Works on September 1, 2017 and the construction permit is expected to be issued in the first half of September 2017, said ICGB AD.

The company is in the process of preparation of the respective procedures for assigning the main contracts which are necessary for the start of the construction - selection of owner's engineer for the project; line pipe supplies; assigning of the detailed engineering, procurement and construction (EPC contract); archaeological research and selection of the construction supervision company.

In July 2017, the ICGB Board of Directors approved an updated schedule which foresees most of the tenders to be notified till the end of 2017. The procedures will be announced pursuant to the procedure and provisions of the Public Procurement Act and will be publicly accessible to all stakeholders.

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Follow the author on Twitter: @Lyaman_Zeyn

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