Baku, Azerbaijan, Oct. 11
By Leman Zeynalova – Trend:
The national energy regulators of Greece and Bulgaria issued a joint decision approving the Network Code and Tariff Code for the IGB project, Trend reports citing ICGB AD, project company.
With this decision, the project company ICGB AD has successfully completed the next step in the process for certification as an independent gas transmission operator.
The decision of the Energy and Water Regulatory Commission (EWRC) and the Regulatory Authority for Energy (RAE) enabled ICGB to proceed with the signing of long-term gas transportation agreements with the five shippers who have currently reserved capacity in the interconnector. Gas transportation agreements are fundamental to the successful implementation of the project as they guarantee the company's revenue for a period of 25 years.
The Network Code contains the rules and procedures for the operation of the IGB gas pipeline, the rights and obligations of the transmission system operator and network users, as well as:
Capacity booking procedures for the capacity products that will be offered;
Congestion management procedures;
Data publication procedures.
The Network Code guarantees transparent and non-discriminatory conditions for access to the pipeline and the services provided by ICGB to all network users.
The project’s Tariff Code determines the tariff for all users of the interconnector, which adopts the entry-exit model, and determines the tariff mechanism for all capacity products offered by the project company.
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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