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IGB reveals possible time of holding next market test for remaining capacity (Exclusive)

Oil&Gas Materials 3 August 2018 10:16 (UTC +04:00)

Baku, Azerbaijan, Aug.3

By Leman Zeynalova – Trend:

ICGB is expecting the official exemption decision by the national regulators of Greece and Bulgaria to hold the next market test, Teodora Georgieva, executive officer at ICGB AD joint venture company, the project’s operator, told Trend.

She noted that as the consultations on the preliminary decision between the national regulatory authorities and the European Commission have been completed, the official decision shall be issued by the end of August 2018.

“The decision is kept confidential until it is officially adopted by both countries, however if ICGB exemption application request is respected, the third party access exemptions shall be applicable for the current quantity of capacity booked during the latest market test in 2016,” said Georgieva.

She pointed out that the remaining capacity shall be offered following the rules set in the capacity allocation mechanisms (CAM) network code.

“The CAM network code envisages short term and long term products, with a maximum period of booking of up to 15 years. Before offering the remaining capacity ICGB shall wait for the official exemption decision as the exact mechanism for the management of the non-exempted capacity should be set there,” said the executive officer.

Further at the current stage the priorities of the project company are the successful completion of the tender process and the start of the construction phase, she added.

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 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.

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