Baku, Azerbaijan, Oct. 11
By Leman Zeynalova – Trend:
Commercial operation of the Interconnector Greece-Bulgaria (IGB), which envisages transportation of Azerbaijani gas to Bulgaria is scheduled to start in July 2021, Trend reports citing Greek Ministry of Energy and Environment.
“Its initial capacity is 3 billion cubic meters of gas per year ( bcma ) with the potential to expand to 5 billion bcma. Construction work is expected to begin immediately and be completed within 18 months. The commencement of the commercial operation of the IGB is scheduled for July 2021,” said the ministry.
As for the key agreements signed between Greece and Bulgaria on IGB, the ministry said that IGB will enhance the geostrategic importance of Greece and support the energy security in the region.
The ministry said that the Intergovernmental agreement on IGB, signed with Bulgaria, is an important milestone for Greece's energy strategy, as it highlights the country as a natural gas transmitter from the Caspian Sea to Bulgaria and through it to Serbia, Romania and other Central and Eastern European states.
On Oct.10, during a formal ceremony in the presence of the Ministers of Energy of Greece and Bulgaria, a number of important agreements and contracts for the IGB project were signed, regulating the financing and confirming the business model of the interconnector.
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.
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