ICGB, the company responsible for the implementation of the Greece-Bulgaria interconnector has applied for certification as an independent transmission operator of the pipeline.
The procedure for certification is one of the key administrative steps and legal obligations that precede the commissioning of the pipeline.
As a future natural gas transmission operator, ICGB has the obligation to ensure against non-competitive or discriminatory behaviour. To this end, the company needs to develop a new management model, including a new set of corporate rules, policies and procedures. It also is expected to introduce a two-tier management system with a board of directors and a supervisory board.
The national energy regulators of Bulgaria and Greece are to issue a joint certification decision after they assess the practical effect of these new rules. The decision is also subject to the review by the European Commission.
The IGB project is of key importance for increasing the security of supply and ensuring diversification of natural gas sources for Bulgaria as well as the entire region of Southeast Europe.
Over 85 per cent of all construction work on the linear part and the above-ground facilities of the project has already been completed. The pipeline is expected to be commissioned in the second half of 2022.
