BAKU, Azerbaijan, March 14. ICGB, operator of the Interconnector Greece-Bulgaria (IGB), has announced a tender for the pipeline’s insurance, Trend reports with reference to Bulgarian media.
The cost of the tender is 2.7 million euros. Tender bids will be accepted until March 21, 2023.
The planned contract envisages insurance against all risks of property damage, including machinery breakdown and operation disruption. The tender also covers general liability insurance, insurance against terrorism, sabotage, riots, strikes, civil disturbances and malicious acts.
The Interconnector Greece-Bulgaria began commercial operation on October 1, 2022.
Since the beginning of the current heating season, the interconnector provides nearly 1/3 of the winter consumption of natural gas in Bulgaria. IGB is the first route for diversified supplies of natural gas to Bulgaria, guaranteeing increased security of supply and diversity of sources, contributing significantly to the competition in the natural gas market, which is a prerequisite for optimized prices for businesses and domestic consumers in the country.
The gas pipeline creates an entirely new route through Bulgaria for the transportation of natural gas from new sources to a number of countries, which reinforces the key role of the interconnector not only at a national level, but also for the entire region of Central and Southeastern Europe.
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