Bulgaria-Greece Gas Link Extends Market Test's 2nd Phase
The deadline for binding offers to book capacity of the Interconnector Greece-Bulgaria (IGB) project has been extended to the end of November, the project company has said.
The process was part of the second phase of the market test launched late last year testing offers for gas supply. The phase was to end on October 31, but has been extended due to "requests by participants in the first phase," ICGB AD says in a statement.
Earlier this month, Bulgaria's Energy Minister Temenuzhka Petkova said four companies that had not participated in the first phase of the test were interested in bidding.
ICBG AD is a Bulgaria-based joint venture of the Bulgarian Energy Holding and Greece's IGI Poseidon SA (the latter company being a co-owned by Greece's DEPA and Italy's Edison SpA).
The interconnector is designed to link the two countries' gas networks and diversify Bulgaria's supplies, but, through links with other infrastructure projects, to enable deliveries to other countries in Southeast Europe.
It will link Komotini in Greece to Stara Zagora in Bulgaria.
The three shareholders in IGB, as well as Austria’s OMV, Greece’s Gastrade, US Noble Energy and Azerbaijan’s Socar have expressed an interest, among others, Kathimerini writes.
Nine non-binding offers were submitted in the first phase of the market test, with a total capacity of 4.3 billion cubic meters under conditions of direct gas flow and 1 bcm yearly under conditions of reverse flow (IGB is to deliver a maximum of 3 bcm annually, according to the current project).
The second phase is aimed at establishing what capacity of the pipe will be booked through the binding offers.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Bulgaria's Nuclear Regulatory Agency Approves Westinghouse Nuclear Fuel for Kozloduy NPP
The Nuclear Regulatory Agency (NRA) has greenlit the phased transition to a new type of nuclear fuel for Unit 5 of Kozloduy Nuclear Power Plant (NPP), manufactured by Westinghouse
Bulgargaz Anticipates Liquefied Gas Deliveries via Alexandroupolis Terminal In May
In a bid to enhance its energy security and diversify its gas supply sources, Bulgargaz is gearing up for the first deliveries of liquefied gas through the Alexandroupolis terminal, set to commence in May
Greek Electricity Giant Acquires Bulgarian Solar Parks
The Greek national electricity company, PPC, has announced plans to acquire 500 megawatts of photovoltaic capacity in Bulgaria
Oil Prices Surge Amid Middle East Tensions
Oil prices have surged due to renewed concerns about the Middle East conflict. Brent crude futures increased by 0.32% to 90.80 USD per barrel, while American WTI crude rose by 0.3% to 86.50 USD per barrel
Bulgargaz Loses 27% Market Share Due to Contract with 'Botas
Bulgaria's state-owned energy company, "Bulgargaz," has suffered a significant setback, losing 27% of its market share as a result of a contract with the Turkish company "Botas"
Bulgaria Sees Surge in Solar Power and Coal Plant Decline in 2023 Electricity Report
A remarkable shift in Bulgaria's energy landscape has been unveiled in the latest report from the Commission for Energy and Water Regulation, submitted to the Bulgarian parliament