TRANSADRIATIC PIPELINE

Following a tender in accordance with the Public Procurement Law, ICGB commissions a Bulgarian company to develop a detailed design for the Stara Zagora gas metering station (GIS2), which will expand the capacity of the IGB gas pipeline. The transport operator is working to develop the gas pipeline infrastructure and increase the total technical capacity from 3 billion cubic meters per year to 5 billion cubic meters per year.

The interconnector with Greece is already successfully connected to the national and transit gas transmission network, as well as to neighboring transmission operators, ensuring the physical transmission of gas. The connection of the infrastructure of the two independent transmission operators for Bulgaria - ICGB and Bulgartransgaz - was carried out near Stara Zagora in the period August 16-17. The process is completed with three gold welds.

ICGB introduces a new management model in response to the requirements to transform the project company into an independent transmission operator. After the General Meeting of Shareholders (BEH and IGI Poseidon) was held, a new Statute of the company was adopted. The changes are part of ICGB's obligations under the company's certification by the national energy regulators of Greece and Bulgaria, which was announced earlier in July.

Since the start of the year, wholesale gas prices in Europe have risen by 250 percent. The record-high prices in Europe are driven by increased demand (due to the wider economic recovery and weather-related factors), competition with Asia for LNG, and a limited supply response from Gazprom, Europe’s largest supplier, providing about a third of Europe’s gas. The current gas supply crunch in Europe once again showed the importance of diversification of gas supply routes and sources.

The construction of the Greek section of the Trans Adriatic Pipeline (TAP) has been completed, Trend reports citing Greek media outlets.

Reportedly, TAP will begin operating on a trial basis as early as this December.
“It is expected that it will start bringing natural gas to Greece, Italy, and Albania at some point next year.