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Over 82% of the IGB pipeline’s capacity for 2023-2024 is already booked

Over 82 per cent of the total technical capacity of the Greece-Bulgaria interconnector for the next gas year (2023-2024) has already been booked. The successful results were achieved by the independent transmission operator ICGB at the quarterly auctions held earlier, on 7 August.

Currently, for the first quarter of the upcoming gas year, the gas pipeline has booked capacity of 76 per cent. For the remaining 3 quarters, bookings exceed 84 per cent of the facility’s total technical capacity. ICGB continues offering the remaining free capacity in both daily and monthly auctions, ensuring transparent and equal access to all interested traders.

“IGB currently operates at a total technical capacity of 3.3 billion cubic metres (bcm) per year, much of which is already booked for the upcoming gas year,” said ICGB’s Executive Officers Teodora Georgieva and George Satlas. “This is a significant achievement for a project that was so recently launched and yet, we’re already looking at expanding its capacity to 5 bcm/y given the market interest.”

The two noted that ICGB is already offering capacity at the interconnection point with DESFA in expectation of the launch of the LNG terminal in Alexandroupolis that will further boost the regional importance of the interconnector. The synergy between the pipeline and the LNG terminal enables excellent collaboration and will serve to strengthen the energy independence of the region.

“It is our key objective to enable energy diversification not only in terms of routes but also in terms of natural gas sources for Bulgaria and the wider region,” Ms Georgieva and Mr Satlas added. “IGB is developed in great strategic synergy with the FSRU near the Greek city of Alexandroupolis, which is expected to be commissioned soon and following the indications from the yearly auctions held recently, we have to take full advantage of the regional infrastructure and provide all interested parties with the opportunity to enter the local market through IGB.”

According to them, the pipeline not only ensures Bulgaria’s internal consumption needs are met but also enables natural gas transportation to other countries in the region including Moldova and Ukraine.

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