IGB receives 5 binding offers for market test

By  Trend

Five binding offers were received on a long term basis for the binding phase of the market test for the Gas Interconnector Greece-Bulgaria, said the message on the website of ICGB company, which is responsible for the project’s realization.

The announced capacity within the second phase of the market test amounts to 2.7 billion cubic meters, of which 1.57 billion cubic meters are reserved.

Due to shown interest from other companies, which have not participated in the first phase of the market test for the project, there is an ongoing discussion about the possibility to initiate a procedure for allocation of the remaining capacity, respectively for participation of new shippers.

IGB, which is expected to be connected to the Trans Adriatic Pipeline (TAP), will allow Bulgaria to receive Azerbaijani gas.

In early December 2015, Bulgaria and Greece signed a final investment decision on the IGB project.

Bulgarian state-owned energy holding company BEH has 50 percent in the joint venture which will build the IGB pipeline, while Greek state energy firm DEPA and Italy's Edison hold 25 percent each.