Acasă » Oil&Gas » ICGB will auction the free capacity of the IGB pipeline via the PRISMA platform

ICGB will auction the free capacity of the IGB pipeline via the PRISMA platform

31 January 2022

The project company ICGB, responsible for the implementation of the interconnector Greece-Bulgaria signed a contract with PRISMA European Capacity Platform GmbH, Europe’s leading gas capacity trading platform, marking a major milestone in the preparations for the pipeline’s launch of commercial operation. Thus, ICGB will auction its capacity at the interconnection points with DESFA and TAP in Greece via PRISMA.

“The IGB pipeline’s capacity is 3 bcm/y in the direction from Greece to Bulgaria and can be extended to 5 bcm/y allowing reverse flow if there’s market interest”, said ICGB’s Executive Officer on the Bulgarian side Teodora Georgieva. According to her, being listed as a natural gas transmission operator on the platform will allow ICGB to aim at new markets, further strengthening Bulgaria and Greece’s positions on the energy map of the region. “Currently, half of the interconnector’s capacity is already reserved – a total of 1,57 billion cubic meters (bcm). Four out of the five shippers that have booked capacity are entirely new to the Bulgarian market and that leads us to believe the international and market interest in the project will only be growing after its commercial launch”, she said.

Currently, PRISMA connects a total of 19 markets, hosting over 40 infrastructure operators. The platform operates with over 660 shippers, allowing transmission operators to market their products transparently and securely.

“ICGB joining PRISMA represents an important step towards the integration of the Eastern European market into our well-established community of European operators, thus increasing the harmonization and transparency of the gas market,” said Götz Lincke PRISMA´s Managing Director.

The IGB pipeline 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. Currently, all efforts remain focused on entering commercial operation in July 2022. In November, ICGB has been granted a license for transmission of natural gas for the territory of Bulgaria for 35 years, following a decision of the Energy and Water Regulatory Commission (EWRC). A similar decision for 50 years is expected to be issued by the Greek energy regulator RAE.

Leave a Reply

Your email address will not be published. Required fields are marked *