Bulgaria-Greece Gas Interconnector Expands, Boosting Energy Security in the Region

Energy | January 3, 2024, Wednesday // 13:40|  views

The Bulgaria-Greece gas interconnector project marks a successful year of operation, transporting over 15.5 million MWh in 2023 without any disruption, reported IGB. The interconnection, with a yearly capacity of 3 billion cubic meters, has significantly supported Bulgaria's energy needs, supplying around half of the country's domestic consumption and facilitating gas transfer to neighboring nations. Notably, it welcomed over 20 new users within the last year.

Expanding its infrastructure in Kardzhali, the interconnector now provides diversified gas sources to local businesses and consumers. The project's inaugural annual capacity auctions secured over 80% reservation for the upcoming gas year, ensuring robust interest from traders and facilitating access to gas volumes from the Alexandroupolis LNG terminal.

In a strategic move, the ICGB initiated an interconnector capacity increase process, aiming to elevate the IGB's technical capacity to 5 bcm per year. This forward-looking endeavor will further fortify the interconnector's role in the regional energy landscape. Additionally, the IGB's contribution to the Trans-Balkan Gas Pipeline has bolstered Europe's energy connectivity, providing a secure natural gas route to Moldova and Ukraine.

This ambitious expansion aligns with the ICGB's vision of broadening the Vertical Gas Corridor to Moldova and Ukraine, emphasizing the importance of synchronized infrastructure development for a sustainable and secure energy sector. The project's implementation by the ICGB, a joint venture between BEH Ltd. and IGI Poseidon, highlights the collaborative efforts between Bulgaria and Greece in fostering regional energy security.

The IGB gas pipeline, spanning 182 km and boasting a design capacity of 3 billion m3/year, is a significant milestone in the energy landscape. Its successful operation and expansion signify a significant step towards enhancing energy connectivity and security in the region.

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Tags: Bulgaria, greece, gas, interconnector


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