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ICGB granted license for natural gas transmission in Greece

The project company for the Interconnector Greece-Bulgaria (ICGB) has been granted a license as an independent natural gas system for the territory of Greece. With a decision of the Greek Regulatory Authority for Energy (RAE), the company will be able to perform the activity of natural gas transmission for a period of 50 years.

A similar license for a 35-year period was already received by the Bulgarian energy regulator – Energy and Water Regulatory Commission (EWRC). Licensing is a key step toward the preparation of the interconnector for the operational phase. It is a confirmation that ICGB is resource-wise and technically prepared for the gas transmission.

The successful licensing of the project company in Greece marks an extremely important stage in the overall regulatory preparation for launch and is one of the last regulatory processes following the successful certification of ICGB as an independent transmission operator.

“With this successful move in the regulatory aspect, we are taking another step forward towards finalising the preparations for the operational phase of the gas pipeline,” said ICGB Executive Officers Teodora Georgieva and Konstantinos Karayannakos. “From a technical point of view, it is most important for us that the Greek EPC contractor completes the integration and testing of the automatic control and management system – the so-called SCADA system – as quickly as possible. The IGB is designed as the first fully automatic gas pipeline in Bulgaria and for its efficient and safe operation this process cannot be neglected.”

The interconnector is of key importance for increasing the security of supply and for ensuring diversification of natural gas sources for Bulgaria and the region of Southeast Europe. The project is to connect Bulgaria to the Southern Gas Corridor and will allow carrying out secure deliveries from various sources to a number of countries, including Moldova and Ukraine.

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