BAKU, Azerbaijan, May 23
By Fidan Babayeva - Trend:
During the outgoing week ICGB AD, the company in charge for the implementation of Interconnector Greece-Bulgaria (IGB) project, which envisages transportation of Azerbaijani gas to Bulgaria, has received 28.5 million euros worth grant as part of the Operational Program "Innovation and Competitiveness" (OPIC).
"The project is backed up with a grant at the amount of 39 million euros, provided by the European Structural and Investment Funds (ESIF) (amounting to 85 percent) and national funding (amounting to 15 percent).
The first interim request under this program was submitted in November 2020 and the funds at the amount of 28.5 million euros were cashed in, on March 1, 2021. The second interim request was submitted at the end of April 2021," said the company.
ICGB AD said that under the European Energy Program for Recovery (EEPR), the project is to receive 45 million euros EU Grant. "The first interim payment under this program - EUR 6.4 million - was approved and cashed in, December 2020."
During the outgoing week the Trans Adriatic Pipeline (TAP) and ICGB AD, a project company for construction of the Interconnector Greece-Bulgaria (IGB), have signed a Services Agreement.
According to the agreement, necessary pressure levels for transmission from TAP through IGB to the entry point with the transmission network of Bulgartransgaz EAD will be provided, said the company.
Construction work on the IGB is expected to be completed at the end of the year and commercial operation is expected in the second half of 2022.
During the outgoing week Socar New Energy of Azerbaijan’s state oil company SOCAR, which will operate the supply of Rosneft resources to Ukraine, has begun substantive negotiations on cooperation with Ukrainian importers of liquefied petroleum gas (LPG).
"The company will be able to offer the first volumes under TERM contracts from July 2021," the sources say.
There is such information in traders' circles that the premium under the contract may reach $25 per ton to the monthly average of the Argus daf Brest quotation.
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