„Routes 2 and 3 are the result of coordinated management and technical work in close cooperation with operators from countries along the Vertical Gas Corridor axis and the European Commission. ICGB is taking a leading role in developing and implementing new products with the clear goal of ensuring flexible, reliable, and diversified access to natural gas for the region and, in particular, to support Ukraine at a critical time“, stated ICGB Executive Directors Teodora Georgieva and George Satlas.
Developed with the ICGB's leadership, Routes 2 and 3 create the possibility of supplying natural gas to Ukraine from diversified sources - liquefied natural gas via the Alexandroupoli terminal and pipeline gas via the Trans Adriatic Pipeline, using existing gas infrastructure, including the Greece-Bulgaria interregional interconnector.
The national energy regulators of Greece, Bulgaria, Romania, Moldova and Ukraine have officially approved the new capacity products "Route 2" and "Route 3", marking a major step towards strengthening regional gas connectivity and ensuring security of supply for Ukraine.
The introduction of new products creates the opportunity to supply natural gas to Ukraine from two diversified sources:
- Liquefied natural gas (LNG) from the FSRU terminal in Alexandroupoli via the IGB pipeline;
- Caspian pipeline gas via the Trans Adriatic Pipeline (TAP), with the Greek-Bulgarian interconnector playing a key role on the South-North axis.
The Independent Transmission Operator ICGB played a leading role in the development and coordination process for Routes 2 and 3, working closely with partner transmission system operators and national regulators in all countries along the route to establish, synchronise and successfully complete the full regulatory approval process.
On December 22, all new natural gas packages—Routes 1, 2, and 3—will be offered simultaneously and competitively on the Regional Booking Platform (RBP). Market participants will have transparent, market-driven access to all three products. To enhance the competitiveness of Routes 2 and 3, ICGB will offer a 46% discount on its standard monthly tariff.
„Routes 2 and 3 are the result of coordinated management and technical work in close cooperation with operators from countries along the Vertical Gas Corridor axis and the European Commission. ICGB is taking a leading role in developing and implementing new products with the clear goal of ensuring flexible, reliable, and diversified access to natural gas for the region and, in particular, to support Ukraine at a critical time“, stated ICGB Executive Directors Teodora Georgieva and George Satlas.
The IGB (Intersystem Gas Connection Greece-Bulgaria) gas pipeline is operated by ICGB JSC, an investment company registered in Bulgaria in 2011 whose shareholders are BEH JSC (50%) and IGI Poseidon (50%). IGI Poseidon's co-shareholder is a company registered in Greece whose shareholders are the Greek company DEPA International Projects S.A. (50%) and the Italian energy group Edison SpA (50%).
In accordance with its charter, ICGB JSC is the owner of the IGB gas pipeline, finances its construction, allocates capacity and receives revenue from the transportation of natural gas.
The IGB gas pipeline is connected to the Greek national gas transmission system (DESFA S.A.) and the Trans Adriatic Pipeline (TAP AG) in the Komotini region of Greece, as well as to the Bulgarian gas transmission system (Bulgartransgaz EAO) in the Stara Zagora region. The total length of the pipeline is 182 km, the pipe diameter is 32 inches, and the designed throughput capacity is up to 3 billion m³/year in the Greece-Bulgaria direction. Depending on market demand for greater throughput and the capabilities of neighboring gas transmission systems, the designed throughput capacity could be increased to 5 billion m³/year.
Source: Diana Zaykova 0885/074 422, 0885/614 131 and Rositsa Donkova 0888/343 661. For more information, visit the website https://www.icgb.eu/bg