Almost 1bcm of gas pumped through IGB since start of its commissioning

So far, over 11.3 million megawatt-hours or more than 962 million cubic meters of natural gas have been transported through the Greece-Bulgaria interconnector, through which Azerbaijani gas delivered to Europe from the Shah Deniz field enters the Bulgarian market, Report informs referring to the independent transmission operator ICGB.

The IGB interconnector, which connects the gas transmission systems of Greece and Bulgaria, has been in commercial operation since October 1, 2022.

The total budget for the project implementation is 253 million euros. It is secured through funds from shareholders BEH and IGI Poseidon, as well as a €109.9 million long-term loan from the European Investment Bank (EIB), grant financing of 45 million euros under the European Energy Program for Recovery (EEPR), and 39 million euros under OPIC.

The volumes of Azerbaijani natural gas supplied via the Bulgaria-Greece interconnector cover about 30% of Bulgaria’s needs and are of key importance for achieving favorable prices for gas in the country.