US company purchases 10% capacity of IGB

The US company Linden Energy Holding Inc. has finalized its participation as a 20-year holder of 10% of capacity on the 3-billion cubic meters per year (bcmy) Interconnector Greece-Bulgaria (IGB) natural gas pipeline, Report informs, citing Oil&Gas Journal.

The 162-km IGB began commercial operations on October 1, 2022. It connects the two countries’ transmission systems, carrying gas produced in Azerbaijan and transported through Greece via the 10-bcmy Trans-Adriatic Pipeline (TAP) to Greece, Bulgaria, and greater Europe. TAP connects to the 16-bcmy Trans-Anatolian Pipeline at the Greek-Turkish border.

Linden, in August 2022, finalized its acquisition of 50% of Bulgarian natural gas distribution company Overgas Inc. AD. PJSC Gazprom owns the other 50%.

Overgas, in July 2022, signed a tentative 10-year agreement with Excelerate Energy Inc. for 1 bcmy of gas from Excelerate’s planned 5-bcmy Vlora LNG terminal on the Albanian coast.