Greece-Bulgaria Interconnection gas pipeline : IGI Poseidon begins commercial operation
IGI Poseidon, through its subsidiary ICGB AD, has commenced commercial operation of the Greece-Bulgaria Interconnection gas pipeline (IGB) to diversify gas supply in the South-East European region.
With a gas transportation capacity of three to five billion cubic meters, the Greece-Bulgaria Interconnection gas pipeline was developed by IGI Poseidon in partnership with Bulgarian Energy Holding.
The Greece-Bulgaria gas pipeline is designed to transport gas from the southern corridor (Caspian Sea, LNG from Greek terminals, East Mediterranean) connecting Greece to Bulgaria. It will be connected to the whole South-Eastern Europe, through the Bulgarian network.
The 800 mm-diameter Greece-Bulgaria Interconnection gas pipeline will travel a distance of 182km, running vertically from South to North between Komotini in Greece and Stara Zagora in Bulgaria. It was built with a total investment of €250 million.
Fabrizio Mattana — IGI Poseidon CEO stated: “The operation of IGB represents a great achievement for IGI Poseidon and its shareholders. Today’s announcement confirms the ability deliver complex projects and, in this turbulent international framework, it makes clear the value of infrastructures aimed at diversification to guarantee the security of European supplies.”
IGI POSEIDON is a joint venture of EDISON and DEPA International Projects.
The IGB gas pipeline is expected to ensure new sources of supply for the Balkan area in the wake of the Russian-Ukrainian conflict.
The Greece-Bulgaria Interconnection gas pipeline obtained €45 million from the European Energy Programme for Recovery and €39 million from structural funds under the Operational Program “Innovations and competitiveness”.
At the Greece-Bulgaria Interconnection gas pipeline opening ceremony, The European Commissioner for Energy, Kadri Simson, said: “The IGB can provide much-needed alternatives and flexibility for Bulgaria and the whole region. This new route will help to strengthen security of supply to the region, including the Western Balkans, Ukraine, and Moldova.
“I would like to congratulate the Greek and Bulgarian governments and the project company ICGB for opening the pipeline today. It is a remarkable milestone of regional cooperation.”