Ilham Aliyev attended the opening ceremony of the Greece-Bulgaria Gas Interconnector in Sofia – UPDATE-2

Ilham Aliyev attended the opening ceremony of the Greece-Bulgaria Gas Interconnector in Sofia – UPDATE-2

On October 1, the opening ceremony of the Greece-Bulgaria Gas Interconnector (IGB) was held in Sofia, the capital of the Republic of Bulgaria.

“Report” informs that the President of the Republic of Azerbaijan Ilham Aliyev participated in the ceremony.

The President of Bulgaria Rumen Radev welcomed the President of the Republic of Azerbaijan Ilham Aliyev and the heads of state and government of other countries.

A video about the technical indicators of the Greece-Bulgaria Gas Interconnector and the importance of the project was shown.

Then there were speeches.

President Ilham Aliyev spoke at the ceremony.

After the speeches, a commemorative photo was taken.

It should be noted that the total length of the Greece-Bulgaria Gas Interconnector (IGB) is 182 kilometers, connecting the gas transmission networks of Bulgaria and Greece.

The project is implemented by the Bulgarian-Greek investment company “ICGB AD”, registered in Bulgaria in 2011, together with the shareholders of Energy Holding of Bulgaria and IGI Poseidon of Greece, each of which has a 50 percent stake.

The total cost of the interconnector is more than 240 million euros. In 2010, the European Commission allocated a grant of 45 million euros for feasibility studies and another payment of 35 million euros within the framework of the program implemented by Bulgaria. The European Investment Bank provided a loan of 110 million euros.

It should be noted that IGB will deliver natural gas produced from Azerbaijan’s “Shahdeniz-2” field to Bulgaria. For this purpose, the Bulgarian state company “Bulgargaz EAD” has signed an agreement with the “Shahdeniz” consortium. The annual transmission capacity of the pipeline will be 3 billion cubic meters. In perspective, this indicator can be increased to 5 billion cubic meters per year. Thus, Azerbaijan’s natural gas will meet 25-30 percent of Bulgaria’s demand.

It should also be noted that the transportation of Azerbaijani gas to Europe began at the end of 2020 with the commissioning of the last segment of the Southern Gas Corridor – TAP. Currently, Turkey, Georgia, Greece, Bulgaria, Albania and Italy are buyers of Azerbaijani gas. As it can be seen, the demand for Azerbaijani gas is increasing in the face of new challenges.

13.00

On October 1, the opening ceremony of the Greece-Bulgaria Gas Interconnector (IGB) is being held in Sofia, the capital of the Republic of Bulgaria.

“Report” informs that the President of the Republic of Azerbaijan Ilham Aliyev is participating in the ceremony.

The head of state spoke at the event.

It should be noted that the total length of the Greece-Bulgaria Gas Interconnector (IGB) is 182 kilometers, connecting the gas transmission networks of Bulgaria and Greece.

The project is implemented by the Bulgarian-Greek investment company “ICGB AD”, registered in Bulgaria in 2011, together with the shareholders of Energy Holding of Bulgaria and IGI Poseidon of Greece, each of which has a 50 percent stake.

The total cost of the interconnector is more than 240 million euros. In 2010, the European Commission allocated a grant of 45 million euros for feasibility studies and another payment of 35 million euros within the framework of the program implemented by Bulgaria. The European Investment Bank provided a loan of 110 million euros.

It should be noted that IGB will deliver natural gas produced from Azerbaijan’s “Shahdeniz-2” field to Bulgaria. For this purpose, the Bulgarian state company “Bulgargaz EAD” has signed an agreement with the “Shahdeniz” consortium. The annual transmission capacity of the pipeline will be 3 billion cubic meters. In perspective, this indicator can be increased to 5 billion cubic meters per year. Thus, Azerbaijan’s natural gas will meet 25-30 percent of Bulgaria’s demand.

It should also be noted that the transportation of Azerbaijani gas to Europe began at the end of 2020 with the commissioning of the last segment of the Southern Gas Corridor – TAP. Currently, Turkey, Georgia, Greece, Bulgaria, Albania and Italy are buyers of Azerbaijani gas. As it can be seen, the demand for Azerbaijani gas is increasing in the face of new challenges.

12:27

On October 1, the opening ceremony of the Greece-Bulgaria Gas Interconnector (IGB) is being held in Sofia, the capital of the Republic of Bulgaria.

“Report” reports that the President of the Republic of Azerbaijan Ilham Aliyev is participating in the ceremony.

Bulgarian President Rumen Radev, European Commission President Ursula von der Leyen, European Union (EU) Energy Commissioner Kadri Simson, North Macedonia President Stevo Pendarovski, Serbian President Aleksandar Vucic, Greek Prime Minister Kyriakos Mitsotakis, Romanian Prime Minister Nicolae- Yonel Chuke, ICGB executive directors Teodora Georgiyeva and George Satlas also attended.

The Greece-Bulgaria Interconnector is of strategic importance for South-Eastern Europe and enables real energy diversification of natural gas suppliers for the region.

IGB envisages the transportation of “blue fuel” produced within the framework of the II stage of the operation of the “Shahdeniz” gas-condensate field, located in the Azerbaijani sector of the Caspian Sea, to Bulgaria. “Bulgargaz EAD” state company has signed an agreement with the “Shahdeniz” consortium on the supply of 1 billion cubic meters of natural gas from the “Shahdeniz-2” field. With this, Azerbaijan will be able to meet 25-30% of Bulgaria’s demand for natural gas.

150 kilometers of the pipeline with a total length of 182 kilometers passes through the territory of Bulgaria. The annual transmission capacity of the belt is expected to be 5 billion cubic meters.

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