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Licensing for IGB’s commercial operation nearing final stage

Oil&Gas Materials 19 January 2021 09:33
Licensing for IGB’s commercial operation nearing final stage

BAKU, Azerbaijan, Jan.19

By Leman Zeynalova - Trend:

In parallel with the ongoing construction activities, ICGB AD, a project company for the Interconnector Greece-Bulgaria (IGB) is in active preparation for finalizing the licensing for commercial operation, ICGB AD told Trend.

The company said it has already applied for Independent Natural Gas System (INGS) license to the Greek Regulatory Authority (RAE) and the application for TSO license submission to the Bulgaria Energy and Water Regulatory Commission is to be finalized soon.

“Furthermore, ICGB is in the process of negotiating the technical and commercial terms under the Interconnection Agreements with the adjacent transmission system operators,” said the company.

The total value of the interconnector that will connect the gas transmission networks of Bulgaria and Greece, is nearly EUR 240 million, provided from shareholders' capital, a loan from the EIB of EUR 110 million with a state guarantee and grants of EUR 39 million under the Operational Program "Innovation and Competitiveness 2014-2020". For the purposes of the project, EUR 45 million have been provided from the European Energy Program for Recovery. IGB project envisages the construction of a gas interconnector that will link the gas transmission systems of Greece and Bulgaria. The total length of the gas pipeline is 182.6 km, and its capacity for gas transmission is 3 billion cubic meters per year with the option to reach 5 billion cubic meters.

The route of the gas pipeline is divided into 7 main lots, the shortest being 9.55 km long and the longest - 71.90 km. 106 km of the route in Bulgaria will be completed with automatic welding, and the remaining 45 km - by manual welding.

IGB will provide the shortest and the most competitive route along the Southern Gas Corridor for bringing natural gas to Bulgaria.

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Follow the author on Twitter: @Lyaman_Zeyn

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