BAKU, Azerbaijan, Aug.31
By Leman Zeynalova - Trend:
Three more environmental and social audits are planned during the active construction phase of the Interconnector Greece-Bulgaria (IGB) and four more over the first 4 years of the project’s operational phase, Trend reports with reference to the ICGB AD project company.
ICGB continues to successfully implement the guidelines and requirements set by the European Investment Bank by embedding all key sustainability goals in the company's strategy, values and objectives. The IGB project is being developed following all commitments for social and environmental compliance as per the highest standards in the industry.
Between June 21st and July 7th, ICGB's ESMS & H&S Department was fully inspected by the third-party auditors from RSK Ltd for a 3rd time. The auditors have highlighted the remarkable achievements of the ICGB’s ESMS team over the past 8 months. Most of the initial findings from the previous visits have been closed with a total percentage of compliance to reach an average of more than 85 percent. The latest inspection on site is completed with 0 major non-compliance findings.
The management system will continue to implement all developed plans and programs alongside ICGB's partners AVAX GROUP and CONSORTIUM "TIBEY", in order to maintain these achievements and further improve its efficiency by interacting with the #environment and #society with the outmost respect, care and #responsibility for the planet.
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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