Baku, Azerbaijan, Oct. 24
By Leman Zeynalova – Trend:
The gas transportation agreements on the Interconnector Greece-Bulgaria (IGB) project, which envisages transportation of Azerbaijani gas to Bulgaria, are expected to be signed by the end of the first quarter of 2019, Teodora Georgieva, Executive Officer of ICGB AD (project company) on the Bulgarian side, told Trend.
"The company is aiming to finalize the approval of the IGB Network Code by the end of February 2019, as the procedure involves as well public consultations. Therefore, the conclusion of the Gas Transportation Agreements (GTAs) is expected by the end of Q1 2019," she said.
Georgieva pointed out that today, most of the processes are already completed or about to be finalized in the coming months.
"First, we are glad to share that on 8th of August 2018 the National Regulators of Bulgaria and Greece issued a Joint Decision on the exemption of IGB from the requirements under article 36 of the European Gas Directive 2009/73/EC," said the executive officer.
Georgieva noted that the decision taken confirms the measures requested by the project company in the application filed, in particular:
Exemption from the rules for third-party access for the capacity booked under the Market test completed;
Exemption from regulated tariff for all the gas pipeline capacity for a period of 25 years.
Exemption from ownership unbundling for a period of 25 years.
"The award of the exemption decision establishes the regulatory framework of the pipeline and allows the project company to start the preparation of the IGB Network Code. The adoption of the Network Code and its approval by the national regulatory authorities (NRAs) in line with the awarded third-party access (TPA) and regulated tariff exemption gives a green light to the project company to proceed with the conclusion of the Gas Transportation Agreements with the shippers that has reserved capacity during the market test," 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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