BAKU, Azerbaijan, October 6. US-based energy development company Linden Energy has finalized its commitment to use 10 percent of the capacity of the Interconnector Greece-Bulgaria (IGB) pipeline under a 20-year contract, Trend reports citing SeeNews.
Linden Energy in August completed its agreed acquisition of 50 percent of privately-held Bulgarian natural gas supplier Overgas Inc.
"The IGB pipeline is key to the diversification of gas markets in Bulgaria and throughout the region. This pipeline will be integral to our objectives with Overgas, and we are excited to see it become utilized in connection with the Revithoussa terminal in Greece," Linden Energy founder and president Stephen Payne said.
He pointed out that all current market players are eagerly awaiting the future connection of IGB with DESFA's pipeline system and the future LNG terminal of Alexandroupolis.
IGB connects Bulgaria with the Southern Gas Corridor and will enable secure supplies from a variety of sources to several countries in Southeast and Central Europe, including Moldova and Ukraine.
The pipeline is set to transport 1 billion cubic meters of Azerbaijani gas per year to Bulgaria. Its capacity is 3 billion cubic meters with the possibility of expanding to 5 billion cubic meters per year.
---
Follow the author on Twitter: @Lyaman_Zeyn