Auctions to guide IGB capability will start quickly – 2024-06-25 02:17:03

by times news cr

2024-06-25 02:17:03

Unbiased transmission operator ICGB will maintain its annual public sale on July 1 for out there capability on the Greece-Bulgaria Interconnector (IGB).

As Day.Az studies, the corporate reported this to Development on Monday.

Volumes might be provided for 5 fuel years, with capability depending on interconnection factors with the networks of Bulgarian operator Bulgartransgaz, Greece’s DEFSA and the Trans Adriatic Pipeline (TAP), respectively.

Within the coming fuel yr 2024/2025, ICGB will supply by aggressive auctions out there capability at two connection factors in Greece amounting to 1,161,784,139 cubic meters per yr. For the connection level in Bulgaria, an out there capability of 1,027,334,020 cubic meters per yr might be provided.

Merchants will be capable to pre-book capability to move volumes that may stream from the liquefied pure fuel (LNG) terminal within the Greek metropolis of Alexandroupolis after its industrial launch.

The auctions might be held on two unbiased capability reserving platforms – RBP and PRISMA.

Lower than two years after the beginning of economic operation, the IGB interconnector already has greater than 40 registered customers who will be capable to take part within the upcoming auctions.

IGB’s whole capability is 3 billion cubic meters per yr, with roughly one billion cubic meters reserved on a long-term foundation beneath 25-year fuel provide contracts from Azerbaijan. The pipeline provides greater than 50 p.c of Bulgaria’s home fuel consumption within the winter months and as much as 80 p.c in the summertime season.

ICGB is presently assessing market curiosity in growing whole capability to five billion cubic meters per yr. This additionally strengthens the transit position of Bulgaria and Greece to 3rd nations. The binding stage of the method will happen after the annual auctions, and the deadline for submitting registration paperwork might be on the finish of the day on June 24.

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