Project company

The IGB project company becomes an independent transport operator

BAKU, Azerbaijan, June 15. ICGB, the project company for the Greece-Bulgaria Interconnector (IGB) has received the joint final decision for certification as an independent transmission operator, the company told Trend.

The certification decision was presented to the two senior executives Teodora Georgieva and Konstantinos Karayannakos by the presidents of the national energy regulators of Bulgaria and Greece – EWRC and RAE – Stanislav Todorov and Athanasios Dagoumas.

With the successful completion of the certification procedure, ICGB becomes the second independent gas transmission operator in Bulgaria. This is a mandatory regulatory requirement that allows the company to commercially operate the Greece-Bulgaria gas interconnector by fulfilling certain conditions of the decision, which is already underway.

The joint decision by the Energy and Water Regulatory Commission (EWRC) and the Energy Regulatory Authority (RAE) was announced after a successful approval process with the European Commission . The entire process was implemented within an optimized time frame given the strategic importance of the interconnection. A representative of the European Commission also participated in the ceremony and welcomed the project. The Commission underlined that the new gas connector is an important contribution to energy security not only for Bulgaria, but also for all EU Member States. The EC has supported the project from its inception, both by providing financial assistance and by promoting its implementation.

“We are grateful to EWRC, RAE and EC for their accelerated work on this process. The gas interconnector between Bulgaria and Greece is a project of great importance for both countries and for the whole region, given the complicated international situation. It is extremely important for us to have such institutional support in order to advance the regulatory and administrative processes necessary to bring the interconnector into commercial operation as quickly as possible,” said the ICGB leaders Teodora Georgieva and Konstantinos Karayannakos.

According to Georgieva, the key to the technical implementation of the project remains the completion of the integration and full testing of the SCADA system, responsible for the overall control and management of the pipeline. “This will be the first fully automatic gas pipeline in Bulgaria, and we cannot afford to compromise with the system that will manage the entire IGB infrastructure. We are counting on the Greek contractor to complete these processes as soon as possible. “Georgieva said.

The Executive Director of the ICGB on the Greek side, Konstantinos Karayannakos, stressed that at all levels the focus is on achieving the start of commercial operation of the pipeline as soon as possible. . “Given the situation in the region, we are already actively discussing the commercialization of available IGB capacity, which would open up many new export opportunities to the Western Balkans, Moldova and Ukraine. taking into account that the IGB pipeline is expandable to This will be an increasingly important topic for ICGB in the future, but for now we are focusing on working with the institutions in Bulgaria and Greece, on which the administrative procedures depend for the commercial launch of the pipeline,” said Karayannakos. He and Georgieva emphasized that active institutional support and cooperation is needed to optimize administrative timelines to get the IGB pipeline off the ground quickly.

The IGB project is of paramount importance to increase the security of natural gas supplies and to ensure the diversification of gas sources for Bulgaria and the whole region of South-East Europe. The project will connect Bulgaria to the Southern Gas Corridor and has excellent synergy with other major energy projects such as TAP, TANAP, EastMed and the LNG terminal in Alexandroupolis.

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