Project Profile

Value

US$271 million

Pipeline Length

182.00 km

The Gas Interconnector Greece-Bulgaria (IGB Pipeline) will provide a direct link between the national natural gas systems of Greece and Bulgaria, with an entry point in the vicinity of Komotini and an exit point in the vicinity of Stara Zagora. The IGB Pipeline acts as a strategic gas transportation infrastructure providing diversification of gas supply to South East Europe gas market and supply security to Greece. The final Environmental Impact Assessment Decision on the territory of Greece was granted in 2013.

The IGB pipeline will have a 32” (~813 mm) diameter and an overall length of approx. 182 km. The pipeline will also be equipped to offer physical reverse flow (Bulgaria-Greece). Depending on future demand, a compressor station could be added, allowing the link's capacity to increase to 5 bcm per day.

It is envisioned that the link will be connected to the Trans Adriatic Pipeline (TAP) through which 1 bcm per year from Azerbaijan's Shah Deniz Stage 2 project will be delivered to Europe. This represents about 30% of what Bulgarian gas demand is expected to be in 2020. 

On September 12th, 2017, the Bulgarian Ministry of Regional Development and Public Works issued the construction permit for the interconnector on Bulgarian territory.

The project is slated to cost 240 million euros (US271 million). This will comprise financing from: a direct equity contribution from ICGB AD of around US$21 million; a contribution of US$51 million from the EC's European Energy Programme for Recovery (EEPR); a loan of US$124 million from the EIB to BEH, which will be passed on to ICGB AD; and a direct financial contribution of US$44 million from the Bulgarian state budget.

Operators:

ICGB AD (JV between state-owned Bulgarian Energy Holding (BEH) and Greek-registered IGI Poseidon)

IGI Poseidon (JV between Greece's state-run gas company DEPA and Italy's Edison)