ICGB: Thanks to supplies from SCG, Greece-Bulgaria Interconnector occupies unique position

ICGB AD pipeline consortium plans to begin the mandatory market test phase for expanding the capacity of the Greece-Bulgaria (IGB) interconnector this summer, the executive director and member of the board of ICGB AD George Satlas said, Report informs.

He noted that expanding IGB's capacity is a "natural next step" in the development of this project. However, the ICGB initially planned to tackle this at a later stage - a few years after its commercial launch.

"However, the war in Ukraine has changed all strategies and plans in the wider region. Now the overall goal of Europe is to limit Russian influence as much as possible, including overcoming any dependence on Russian natural gas. With this in mind, a strategic decision was made to accelerate the expansion of IGB capacity from 3 to 5 billion cubic meters per year,” Satlas said in an interview with the Greek portal Energypress.

He added that the process was launched last year "to better understand market sentiment towards this move" - carrying out a mandatory market testing phase.

" The non-mandatory phase was a success and we saw results indicating significant interest in booking increased capacity for at least several years in a row. This really gives me cause for optimism. The mandatory market testing phase will begin in July 2024, once completed we will be able to determine the next steps,” said Satlas.

The consortium has begun work to modernize the gas metering station at the Stara Zagora entry-exit point to increase its capacity to 5 billion cubic meters per year by the fourth quarter of 2025, he said.

He stressed that the IGB is likely to be "the first project within the Vertical Gas Corridor to be expanded."

"As a company, we are very committed to seeing this through. Thanks to the pipeline's synergies with liquefied natural gas terminals in the region, the Trans-Balkan Pipeline and access to supplies from the Southern Gas Corridor, IGB is in a unique position. Expanding its capacity means access to more fuel for all countries in the region,” he noted.

The Greece-Bulgaria Interconnector connects Bulgaria with the Southern Gas Corridor and is part of the Vertical Gas Corridor. The pipeline strengthens energy connectivity and security in the region by providing access to natural gas from new, diversified sources.