(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 29. The Interconnector
Greece-Bulgaria (IGB) will get the final tranche under the European
Energy Program for Recovery this summer, the ICGB, the project
operator, told Trend.
The company said in early November 2022, it received approval
for the last portion of the long-term loan from the EIB, following
a successful audit conducted by independent international experts.
ICGB has already initiated the process to claim reimbursement for
eligible costs under the financing provided by the European Energy
Program for Recovery. It is anticipated that the final tranche of
€22 million will be approved without any issues by the end of
summer 2023.
Even after the complete utilization of funding for the IGB
pipeline during its commercial operation phase, independent audits
will persist. These audits will be conducted annually and will
encompass both thorough documentation checks and on-site
inspections.
The Greece-Bulgaria Interconnector commenced commercial
operations on October 1, 2022. Since the beginning of the current
heating season, it has supplied approximately one-third of
Bulgaria's winter natural gas consumption. As the primary conduit
for diverse natural gas supplies to Bulgaria, the Interconnector
Greece-Bulgaria ensures heightened supply security and source
variety. This development significantly enhances competition in the
natural gas market, leading to optimized prices for both businesses
and domestic consumers in the country.
With a total length of 182 km and a pipe diameter of 32 inches,
the gas pipeline has been designed with a capacity of up to 3
billion m3/year for transporting gas from Greece to Bulgaria.
However, the Interconnector Greece-Bulgaria has the potential to
expand its capacity to 5 billion m3/year based on market demand and
the capabilities of neighboring gas transmission systems. To
accommodate higher gas volumes, the construction of an additional
compressor station would be required.
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