BAKU, Azerbaijan, June 20. The ICGB AD, the project company for construction of the Interconnector Greece-Bulgaria (IGB), hopes for a speedy granting of independent transmission operator, the company told Trend.
“An approval of the European Commission and a final decision of the regulatory authorities of Greece and Bulgaria - RAE and EWRC are expected, after which the project company ICGB will be certified as an independent transmission operator. Given the situation in the region and the key importance of the interconnector, ICGB hopes that the EC will complete the procedure in a shorter time frame in order to optimize and speed up the implementation of administrative requirements for commercializing the pipeline. Following the approval of the EC, the national regulators of the two countries should prepare, adopt and publish a final joint certification decision, which will implement the procedure for certification of ICGB as an independent transmission operator and will essentially introduce a new management model within the company. Prior to the completion of this procedure, the project company would not be able to operate the pipeline from a commercial point of view,” said the ICGB AD.
The IGB project is of key importance for increasing security of supply and for ensuring diversification of natural gas sources for Bulgaria and the region of Southeast Europe. At the regional level, IGB will provide access to the gas transmission network for Bulgarian municipalities and regions that didn’t have an option for connectivity. The interconnector with Greece is an entirely new route for the transmission of natural gas to Europe and will give Bulgaria and the region access to supplies from new sources. The project will connect the country with the Southern Gas Corridor and has excellent synergy with other major energy projects such as TAP, TANAP, EastMed and the LNG terminal at Alexandroupolis.
---
Follow the author on Twitter: @Lyaman_Zeyn