ICGB completes auctions for IGB pipeline’s available capacity for next gas year

The independent transmission system operator ICGB has finalized with success the yearly auctions for the available capacity of the IGB pipeline for the next gas year 2023-2024, Report informs referring to the ICGB.

Over 70% of the offered capacity - over 37 million kWh/day - was booked and the remaining quantity will be available in quarterly, monthly and daily auctions.

“There are several new shippers just entering the local market for the first time through booking capacity in the interconnector,” said ICGB.

“With current total capacity of around 3 bcm/y, the interconnector has 1.57 bcm/y booked under long-term contracts, providing access to natural gas from Azerbaijan. The remaining available capacity is being offered on two major European platforms.”

ICGB has also just launched an incremental capacity process to assess the market demand for incremental capacity, exploring the opportunities for further expanding the IGB pipeline to approximately 5 bcm/y.