ICGB has completed the construction of the 3 bcm/year Interconnector Greece-Bulgaria (IGB) gas pipeline project between the northern Greek city of Komotini to Stara Zagora in Bulgaria. The 182 km project, which is expected to be operational in August 2022, will connect to the Trans Adriatic Pipeline (TAP) project, carrying Azeri gas, through the Turkey-Greece-Italy pipeline (ITGI), to the Trans Adriatic Pipeline (TAP) project and to the Revythoussa LNG terminal in Greece. The pipeline’s capacity could later be raised to 5 bcm/year with reverse flow capacity (2025) by adding a compressor station.
The pipeline, selected as a Project of Common Interest (PCI) of the European Union, will significantly improve the integration of energy markets in southeastern Europe (including Romania and Hungary) and help diversify gas supplies away from Russia. The project, was developed by ICGB, a special purpose vehicle owned by the Bulgarian state-owned energy holding company BEH (50%) and IGI Poseidon, a 50-50 joint venture of DEPA (Greece) and Edison (Italy). The investment of €240m comprises €149m provided by the Bulgarian side, including a €110m state guarantee, and a grant of €39m from the European structural and investment funds.