ICGB receives license for transmission of natural gas for Bulgaria’s territory

ICGB AD, implementing the IGB (Gas Interconnector Greece - Bulgaria) project designed to supply Azerbaijani gas to Bulgaria, has been granted a license for transmission of natural gas for the territory of Bulgaria, Report informs referring to the ICGB website.

With a decision of the Energy and Water Regulatory Commission (EWRC) published November 5, the project company, which is responsible for the implementation of the Greece-Bulgaria interconnector, will be able to perform the activity of natural gas transmission for a period of 35 years.

A similar decision for a 50-year period is expected to be issued by the Greek energy regulator RAE. Licensing is a key step towards the preparation of the interconnector with Greece for the operational phase and is a confirmation that ICGB is resource-wise, technically and financially prepared for the gas transmission.

The successful licensing of the project company in Bulgaria marks an extremely important stage in the overall regulatory preparation of the IGB project. Acquisition of this natural gas transmission license is a mandatory step before initiating the procedure for certification of the company as an independent natural gas transmission operator - a process that ends with the approval of the national energy regulators of Bulgaria and Greece and the European Commission. The future decision for certification will act as a guarantee that ICGB is able to form independent market behavior in the name of free competition.