BAKU, Azerbaijan, June 23
By Leman Zeynalova – Trend:
ICGB AD, a project company for construction of the Interconnector Greece-Bulgaria (IGB), is ready to cooperate with all interested gas distribution companies and industrial customers, which will allow businesses and households to benefit from natural gas at competitive prices, Trend reports with reference to the company.
“The implementation of the Greece-Bulgaria interconnector is important not only for the energy diversification of our country, but also allows for direct access of a number of Bulgarian municipalities to the gas transmission network. With the commissioning of the pipeline, which is scheduled for July 1, 2022 at the latest, Bulgaria will have access to natural gas from new sources, which will make supplies more secure. The entry of new shippers will significantly improve competition in the natural gas market, which in turn will lead to competitive prices and make blue fuel more affordable for businesses and households,” said the ICGB AD.
One of the strategic benefits of the interconnector is the possibility of access to the gas transmission network for Bulgarian municipalities and regions that have not yet had the option of connectivity, the company said.
“The project company ICGB, which is responsible for the implementation of the project, ensures full cooperation of all stakeholders in terms of providing access to the interconnector in accordance with European and Bulgarian legislation.”
The deadline for construction of IGB is the end of 2021.
The IGB project enables the transmission of gas and supplies from new sources, making it key to Bulgaria's energy security and part of the national plan for diversification of gas sources. The capacity of the project is 3 billion cubic meters with the option to reach 5 billion cubic meters. Half of the capacity of the interconnector is already reserved, as four of the shippers are completely new to the Bulgarian market. A contract has been signed for the supply of 1 billion cubic meters from Shah Deniz 2 based on a long-term contract with Bulgargaz.
The conclusion of the contract for construction of the interconnector dates back from the end of 2019, as one of the main commitments of the project company in structuring IGB is the obligation to control costs within the approved budget, which will ensure competitive transmission for customers. The delay in construction activities and the approved update of the construction schedule for the end of 2021 are due to objective reasons related to the global coronavirus pandemic and do not lead to direct losses. The established alternative route through the Greek system and Siderokastro provides a temporary solution for servicing the contract with Azerbaijan until IGB is put into commercial operation.
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