Deadline extended for binding offers for IGB pipeline

The deadline for binding offers for the use of the Natural Gas Interconnector Greece-Bulgaria (IGB) has been extended Nov.30, 2016, said the website of ICGB AD company, which was established for implementing and operating the IGB pipeline.

The extension of the deadline for submission of binding offers is made following a relative consultation and coordination with Bulgaria’s Energy and Water Regulatory Commission and Greek Regulatory Authority for Energy and based on requests by participants in the first phase, said the company.

IGB, which is expected to be connected to the Trans Adriatic Pipeline (TAP), will allow Bulgaria to receive Azerbaijani gas.

In early December 2015, Bulgaria and Greece signed a final investment decision on the IGB project.

Bulgarian state-owned energy holding company BEH has 50 percent in the joint venture which will build the IGB pipeline, while Greek state energy firm DEPA and Italy's Edison hold 25 percent each.