ICGB joins the PRISMA platform
PRISMA announces ICGB, the project company ICGB, responsible for the implementation of the interconnector Greece-Bulgaria, as new operator on our platform.
Leipzig, 25 January 2022 - PRISMA European Capacity Platform GmbH is glad to announce ICGB, the project company ICGB, responsible for the implementation of the interconnector Greece-Bulgaria, as new operator on our platform.
In joining PRISMA, ICGB marks an important milestone which inaugurates all their forthcoming commercial activities on our platform.
By connecting Greece and Bulgaria, ICGB, represent a key player in Europe ensuring the security and diversification of gas supplies for Bulgaria and the SEE region. “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.
In line with its Exemption decision and the obligation to offer its non-exempted capacity following market-based procedures under Regulation 459/2017 CAM NC, ICGB will auction its capacity at the Interconnection points with DESFA and TAP in Greece via PRISMA.
“This is an important step for ICGB, and by joining PRISMA, we are making an essential contribution to an integrated European energy market and diversification of supply” said Teodora Georgieva ICGB´s executive officer.
About ICG Project
The IGB Project (Gas Interconnector Greece-Bulgaria) is being implemented by the joint venture company ICGB AD, registered in Bulgaria in 2011, with shareholders BEH EAD (50%) and IGI Poseidon (50%). The co-shareholder IGI Poseidon is a company, registered in Greece, with shareholders being the Greek public gas corporation DEPA SA (50%) and the Italian energy group Edison SpA (50%).
In accordance with its Statute, ICGB AD will be the owner of the IGB gas pipeline and will finance its realization, will allocate its capacity and will receive the revenue from the transportation of natural gas.
The IGB gas pipeline will be connected with the Greek national gas transmission system in the area of Komotini and with the Bulgarian national gas transmission system in the area of Stara Zagora. The planned length of the pipeline is 182 km, the pipeline diameter will be 32” and the projected capacity will be up to 3 bcm/y in the direction from Greece to Bulgaria. Depending on the interest from the market and the capacities of the neighboring gas transmission systems, the pipeline is designed for increasing its capacity up to 5 bcm/y for following up the market evolution thus allowing physical reverse flow (from Bulgaria to Greece) with the additional installation of a compressor station. A Memorandum for cooperation between ICGB AD and TAP AG has been signed concerning joint actions in relation to future connection between the IGB pipeline and the Trans-Adriatic Pipeline.