IGB: Over 80% of work complete to start construction (Exclusive)

IGB: Over 80% of work complete to start construction (Exclusive)

Baku, Azerbaijan, Aug. 6

By Leman Zeynalova – Trend:

More than 80 percent of the work has been completed for starting the construction of the Interconnector Greece-Bulgaria (IGB) that envisages transportation of Azerbaijani gas to Bulgaria, Teodora Georgieva, executive officer at ICGB AD joint venture company, the project’s operator, told Trend.

"For the IGB project most of the significant preparatory job is already completed. There is a Final Investment Decision for the project taken in December 2015. The environmental impact assessment (EIA) is completed for the entire route. The Technical Design for the Bulgarian part of the route as well as the FEED for the Greek section have been finalized. There is a Construction Permit issued for Bulgaria and Installation act for Greece. Installation permit is expected immediately after the Exemption Decision," she said.

Georgieva went on to add that the financial model and the business plan were finally agreed between the shareholders and aligned with the European Commission as part of the exemption procedure and the approval of additional grant of 39 million euros.

"The financial structure is entirely settled and there negotiations which are ongoing for preparation of intergovernmental agreement between Bulgaria and Greece for stabilization of the taxation of the project for a period of 25 years. There is a sovereign guarantee secured by the Bulgarian state and on that basis a Memorandum of understanding is signed between Bulgarian Energy Holding and EIB for providing of loan for the realization of the project," she noted.

A pre-notification procedure for compatible state aid has been finalized with Directorate General for Competition, according to Georgieva.

"All main tenders are launched - for selection of owner's engineer; for manufacturing and supply of line pipes; for engineering, procurement and construction and for archaeological research. Based on the above, we have to summarize that more than 80 percent of the work for start of construction is already done," she concluded.

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.

---

Follow the author on Twitter: @Lyaman_Zeyn

Azerbaijan develops website to fight spread of Armenian fake news
Azerbaijan develops website to fight spread of Armenian fake news
All climate resources must be mobilized to tackle global warming, UK Ambassador Laurie Bristow
All climate resources must be mobilized to tackle global warming, UK Ambassador Laurie Bristow
MFA receives no info on Azerbaijani citizens among quake casualties in Turkish Izmir yet
MFA receives no info on Azerbaijani citizens among quake casualties in Turkish Izmir yet
Loading Bars
Latest
Voting in parliamentary elections in Georgia continues normally - Arzu Nagiyev (PHOTO)
Iran and Russia reach to agreement on construction of thermal power plant
Azerbaijani FM forwards his condolences to Turkish people due to Izmir earthquake
Ukraine reports record daily high new coronavirus cases
Uzbek oil and gas production dep’t announces tender for feasibility studies
Loan portfolio of Azerbaijan AFB Bank grows
Elections proceeding peacefully, no serious violations so far in Georgia - Interior Ministry
President Ilham Aliyev interviewed by German ARD TV channel (PHOTO)
Uzbek-Korean Uz-Kor Gas Chemical to buy radiant tubes via tender
Uzbekistan’s Ministry of Innovative Development to buy light vehicles via tender
South Korean companies invited to enter Turkmen market more actively
Azerbaijani FM, ICRC Director General meet to discuss current situation in Karabakh
Armenia's barbaric crimes tantamount to actions of fascists - Mikhail Zabelin (PHOTO)
Reports about shelling of Shusha by Azerbaijani army - another lie, MoD says
Azerbaijan's largest loans share falls on household sector
Azerbaijan's PM meets Pakistani ambassador
Armenian reports on missile attack on Khankendi by Azerbaijani army - lie, says MoD
Azerbaijan develops website to fight spread of Armenian fake news
Presence of PKK terrorists in ranks of Armenian Armed Forces - fact, says president's aide
Iran reveals value of fishery products exported from Gilan Province
Turkmen MFA opens tender for supply of technical equipment
October conscription for active military service ends in Azerbaijan
Georgia reports 1,673 new coronavirus cases
Uzbekistan reveals its COVID-19 data for October 31
Georgia decreases export to Kazakhstan amid COVID-19
Turkmenistan, Denmark's Haldor Topsoe continue discussions on gasoline plant construction
Azerbaijani-Iranian border outposts reopen after being liberated from Armenian occupation
Some international organizations silent on crimes committed by Armenia - expert
Another earthquake strikes Turkish Izmir Province
Prime Minister of Georgia votes in parliamentary elections
Iran's per capita income declines
Turkmenistan considers opportunities to attract investment to Caspian Sea
Azerbaijani, Georgian experts discuss issues on agenda via teleconference (VIDEO)
Turkmenistan improves transport infrastructure
Iranian currency rates for October 31
Armenian Armed Forces fire at Azerbaijani Aghjabadi district's village
Georgian President Salome Zourabichvili votes at parliamentary elections
Local and international election observer organizations monitor parliamentary elections in Georgia
Parliamentary elections being held with new election system in Georgia
Parliamentary Elections being held in Georgia
Azerbaijani products to be showcased at int’l exhibition in Shanghai
Azerbaijan's income from sales of pharmaceutical products increases
Propylene production grows in Azerbaijan
Azerbaijan investing in alternative energy dev't
Azerbaijan denies accusations on use of weapons prohibited by international law
Azerbaijani army fires back at Armenia firing points, which shelled Gubadli - MoD
Latest situation on battlefield on October 31
Azerbaijani Defense Ministry lists Armenian military equipment destroyed
Azerbaijani Tartar, Aghdam, and Aghjabedi districts come under artillery fire
Brazil's COVID-19 cases top 5.5 million with 159,477 deaths
24 dead in Izmir as magnitude 6.6 quake shakes Turkey’s west coast (UPDATE)
U.S. says Iranian hackers behind threatening emails accessed voter data
Israel's COVID-19 cases up by 587, tally reaches 313,701
Trump derides doctors as COVID surges, Biden says Trump 'giving up' on virus
Protesters clash with police over COVID-19 restrictions in Barcelona
U.S. COVID-19 cases surpass 9 mln -- Johns Hopkins University
COVID-19 remains public health emergency of international concern: WHO
Meeting of Jeyhun Bayramov with OSCE MG Co-Chairs and Armenian FM ends
Azerbaijan, Armenia reach new agreements following talks in Geneva
First Vice-President Mehriban Aliyeva offered condolences to relatives and loved ones of those killed as a result of earthquake in Izmir (PHOTO)
Azerbaijani army does not fire at civilians - MoD
Franck Muller founder engaged in illegal gold exploration in occupied territories of Azerbaijan – top official
Priests also fighting in ranks of Armenian Armed Forces (PHOTO)
Business confidence forecast to deteriorate in Georgia
Venture funds to be created in Uzbekistan to finance innovative developments
Trade turnover between Ukraine and Georgia decreases
Roads connecting number of Azerbaijan’s Agsu settlements reconstructed (PHOTO)
All climate resources must be mobilized to tackle global warming, UK Ambassador Laurie Bristow
Banking sector of Azerbaijan looks more stable than predicted - CBA chairman
Azerbaijan destroys another "Osa" anti-aircraft missile system of Armenian troops (VIDEO)
UK's coronavirus reproduction number drops slightly to between 1.1 and 1.3
Azerbaijani, Armenian FMs, OSCE MG Co-Chairs holding Karabakh talks in Geneva
Armenia's attack against Barda is crime against humanity perpetrated in widespread manner - Azerbaijani embassy in Canada
Azerbaijani embassy to Canada condemns speeches in House of Commons as they support war crimes
Armenia-inflicted damage on culture in occupied Azerbaijani territories would soon be irreversible - Modern Diplomacy report
Situation at front - under Azerbaijani Armed Forces’ control - Defense Ministry
Fire brigade extinguishes fire in Azerbaijan’s Goranboy due to Armenian Armed Forces’ artillery strikes
I don't know how efficient meetings are going to be now with regard to Armenian leadership - President Aliyev
President Ilham Aliyev's response call for Armenia: Recognize Nagorno-Karabakh
Azerbaijani PM phones Turkish VP regarding recent earthquake
Turkey already engaged in Karabakh settlement, whether Armenia likes it or not - President Aliyev
Azerbaijan destroys Armenian military equipment with precise strikes (VIDEO)
Armenia fires Smerch missile at Alasgarli village of Azerbaijani Tartar region
President Aliyev says Pashinyan lies about Pakistani, Turkish forces fighting for Azerbaijan
President Aliyev talks online footage of armed clashes, Azerbaijan's military potential
If Armenia got sanctions imposed on it as with Iraq, conflict would've been resolved long ago - president
Armenian side has no moral norms, no honor or dignity - President Ilham Aliyev
News about earthquake in Turkey’s Izmir saddens Azerbaijan – FM
Azerbaijan prepares new draft laws in renewable energy field
Central Bank of Azerbaijan reveals forecast for inflation in country
If someone willing to create second Armenian state, let them give away part of their own territory - Azerbaijani president
When three nuclear powers cannot exert pressure on Armenia, this raises questions - President Aliyev
Armenia sending convicts to fight in Karabakh conflict
Azerbaijani Embassy in Turkey opens hot line in connection with earthquake in Izmir
Combining efforts of Turkey and Russia to benefit region - President of Azerbaijan
What's happening now - results of Armenian PM Pashinyan's activity, says Azerbaijani president
President Ilham Aliyev expresses condolences to President Recep Tayyip Erdogan
Missile attacks on Barda by Armenian Armed Forces heavily damage local business entities (PHOTO)
Gold, silver prices in Azerbaijan down
Every human life is priceless, our losses are minimal - Azerbaijani president
All news