IGB significantly contributes to securing favorable gas pricing in Bulgaria

The volumes of natural gas delivered to Bulgaria from Azerbaijan via the Interconnector Greece-Bulgaria (IGB), have significantly contributed to securing favorable pricing in Bulgaria, Azernews reports.

The Bulgarian Energy and Water Regulatory Commission (EWRC) has said that the gas via IGB covers more than 42 percent of the country’s monthly consumption.

As such, EWRC has sanctioned an 8.4 percent decrease in the natural gas price for February, fixing it at BGN 71.08 (equivalent to 36.4 euros) per megawatt-hour. This marks a notable decline from January's ratified rate of BGN 77.60 per megawatt-hour.

Aside from IGB, the total anticipated volume for the domestic market was procured by two other sources, namely, LNG supplies secured by Bulgargaz for February and the Chiren underground gas storage facility.

The IGB gas pipeline, which became operational in October 2022, connects with the Greek national gas transmission system (DESFA S.A.) and the Trans-Adriatic gas pipeline (TAP AG) in the area of Komotini (Greece), and with 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 m3/year in the direction of Greece - Bulgaria. Depending on the market interest for larger capacity and the possibilities of the neighboring gas transmission systems, the capacity of IGB is designed with the option for an increase of up to 5 billion m3/year with additional construction of a compressor station.