For the past year, the interconnector achieved 365 trouble-free days of operation. ICGB has started the process of increasing the technical capacity of the gas pipeline to 5 billion cubic meters per year. On the picture is the gas measuring station in Komotini.
Over 15.5 million megawatt-hours (MWh) were transported on the Greece-Bulgaria gas interconnection in 2023. The project celebrated its first anniversary and successfully achieved 365 days of operation without interruption of activities.
The gas pipeline operates with a capacity of 3 billion cubic meters per year, providing about half of Bulgaria's needs for domestic consumption and enabling the transfer of gas to other countries in the region. In the past year, more than 20 new users of the IGB network were registered. By building additional infrastructure in Kardzhali, IGB is now providing access to a new, diversified source of natural gas for both local businesses and domestic consumers.
In 2023, the ICGB held annual interconnector capacity auctions for the first time, which secured over 80% reserved capacity for the new gas year. Through quasi annual capacity tenders, the company enabled the capacity to be preserved at the interconnection point with the Greek transmission network. This strategic step will allow traders to access volumes from the Alexandroupolis LNG terminal as soon as it becomes operational.
Appreciating the growing market interest in this new supply route, the ICGB has initiated an interconnector capacity increase procedure to expand the technical capacity of the IGB to 5 bcm per year. The binding phase of the process is planned for the summer of 2024.
The IGB provided a new route for secure natural gas supplies to Moldova and Ukraine via the Trans-Balkan Gas Pipeline, which contributed to improving Europe's energy connectivity and diversification of sources. With this aim, the ICGB also initiated the idea of expanding the Vertical Gas Corridor to Moldova and Ukraine with the support of transmission system operators in neighboring countries, as the development of energy infrastructure in sync is a key to a more sustainable and secure energy sector.
The IGB project (Greece-Bulgaria Intersystem Gas Connection) is implemented by the mixed investment company "ICGB" JSC, registered in Bulgaria in 2011 with shareholders BEH LLC (50%) and IGI Poseidon (50%). The joint shareholder IGI Poseidon is a company registered in Greece, with shareholders the Greek company DEPA International Projects S.A. (50%) and the Italian energy group Edison S.p.A (50%).
In accordance with its charter, ICGB JSC is the owner of the IGB gas pipeline, financing its implementation, distributing its transmission capacity and receiving revenues from the transmission of natural gas.
The IGB gas pipeline is connected to the Greek national gas transmission system (DESFA S.A.) and the Trans-Adriatic gas pipeline (TAP AG) in the area of Komotini (Greece), and to the Bulgarian gas transmission system (Bulgartransgaz EAD) in the area of Stara Zagora. The total length of the gas pipeline is 182 km, the diameter of the pipe - 32'' - and a design capacity of up to 3 billion cubic meters per year in the direction from Greece to Bulgaria. Depending on the market interest in using a larger capacity and the possibilities of the neighboring gas transmission systems, the capacity is designed to increase to 5 billion cubic meters per year. with additional construction of a compressor station.
Source: Diana Zaikova, 0885/074 422, 0885/614 131, Rositsa Donkova 0888/343 661