IGB Operator Due To Start Auctions For Capacity Booking
Date
6/24/2024 9:19:17 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, June 24. The independent
transmission operator ICGB will hold annual auctions for the
available capacity of the gas interconnector between Greece and
Bulgaria on July 1, the ICGB told Trend .
Quantities will be offered for five consecutive gas years, with
the capacity varying for the different interconnection points -
with the networks of Bulgarian operator Bulgartransgaz, Greece's
DEFSA and the Trans Adriatic Pipeline (TAP) respectively.
For the upcoming gas year 2024/2025 ICGB will offer on
competitive auctions the available capacity of the two
interconnection points in Greece amounting to 1,161,784,139
Nm3/year or 37,333,058 Kwh/d/y. The available capacity in the
amount of 1,027,334,020 Nm3/year or 33,012,605 Kwh/d/y will be
offered for the interconnection point in Bulgaria.
Traders will be able to book capacity in advance to transport
volumes that will flow from the LNG terminal at the Greek city of
Alexandroupolis upon its commercial launch.
The auctions will take place on two independent capacity booking
platforms, RBP and PRISMA.
Less than two years after the start of commercial operation, the
IGB interconnector already has more than 40 registered users who
can participate in the upcoming auctions.
IGB has a total capacity of 3 bcm/year, with nearly 1 bcm booked
on a long-term basis under a 25-year contracts for gas coming from
Azerbaijan. The pipeline contributes to supplying over 50% of
Bulgaria's domestic gas consumption in the winter months and up to
80% in the summer season.
The operator company ICGB is currently conducting an incremental
capacity process, assessing the market's interest in increasing the
total capacity to 5 bcm/year. This will allow the transmission of
larger quantities of natural gas, further securing the country's
domestic consumption. It also strengthens Bulgaria's and Greece's
transit role to third countries. The binding phase of the process
will take place after the annual auctions, and the deadline for
submitting registration documents is at the end of the day today
–June 24.
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