ICGB, Linden Energy Ink Natural Gas Transmission Deal
Date
10/21/2022 10:05:40 AM
(MENAFN- AzerNews) By Ayya Lmahamad
The independent transmission operator ICGB, which operates
commercially the Interconnector Greece-Bulgaria, and American
company Linden energy LLC have signed a natural gas transmission
agreement for a period of 20 years, ICGB AD told Azernews.
'In the market Test for binding interest in the capacity of the
Greece-Bulgaria pipeline that took place in 2016, Linden Energy LLC
signed a long-term capacity reservation agreement. Now, in sync
with the start of commercial operation of the interconnector, ICGB
and Linden Energy LLC reaffirmed the commitment for reserved firm
capacity in the direction Greece-Bulgaria for a period of 20
years,' the company stated.
The inclusion of another trader with a signed gas transportation
agreement through IGB has a positive effect on the pipeline's
transmission tariff.
'This is also to the benefit of the end-users in Bulgaria since
as of October 1st nearly a third of the domestic consumption of
natural gas in the country is ensured with supplies delivered
through IGB,' the company stated.
Linden Energy LLC is a US-based company with strategic interests
in the regional natural gas market. The company recently finalized
an equity share in one of Bulgaria's largest natural gas suppliers
and announced plans to build a regasification facility in
Albania.
The IGB gas pipeline is designed to connect the Greek national
gas transmission system (DESFA S.A.) and the Trans-Adriatic gas
pipeline (TAP AG) in the area of Komotini (Greece), with the
Bulgarian gas transmission system (Bulgartransgaz EAD) in the area
of Stara Zagora. The total length of the gas pipeline is 182 km,
and the diameter of the pipe is 32''.
The interconnector has a total capacity of 3 billion cubic
meters per year, more than half of which is already reserved under
long-term contracts of up to 25 years. The remaining free capacity
is offered at auctions on two of the leading European platforms -
PRISMA and RBP.
The pipeline is designed to increase its capacity up to 5 bcm/y
depending on market interest and the capacities of neighboring gas
transmission systems.
The opening ceremony of the Interconnector Greece-Bulgaria was
held in Komotini on July 8, while a ceremony to inaugurate the
(IGB) was held in Bulgaria on October 1.
--
Ayya Lmahamad is AzerNews' staff journalist, follow her on
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