The national energy regulators of Greece and Bulgaria issued a joint decision approving the Network Code and Tariff Code for the IGB project. With this decision, the project company ICGB AD has successfully completed the next step in the process for certification as an independent gas transmission operator.
The decision of the Energy and Water Regulatory Commission (EWRC) and the Regulatory Authority for Energy (RAE) enabled ICGB to proceed with the signing of long-term gas transportation agreements with the shippers who have currently reserved capacity in the interconnector. Gas transportation agreements are fundamental to the successful implementation of the project as they guarantee the company's revenue for a period of 25 years.
The Executive Officers of ICGB Teodora Georgieva and Konstantinos Karayannakos expressed their gratitude to the regulators of Greece and Bulgaria for their joint decision. According to them, the approval of the Codes will allow the work on the project to further progress and will help shippers to secure long-term gas supply agreements from diversified sources.
The Network Code contains the rules and procedures for the operation of the IGB gas pipeline, the rights and obligations of the transmission system operator and network users, as well as:
- Capacity booking procedures for the capacity products that will be offered;
- Congestion management procedures;
- Data publication procedures.
The Network Code guarantees transparent and non-discriminatory conditions for access to the pipeline and the services provided by ICGB to all network users.
The project’s Tariff Code determines the tariff for all users of the interconnector, which adopts the entry-exit model, and determines the tariff mechanism for all capacity products offered by the project company.
The IGB project envisages the construction of a gas interconnector between Greece and Bulgaria, with connecting points for the two countries being near the cities of Komotini and Stara Zagora. IGB is key to improving the security and diversification of gas supplies to Bulgaria and the SEE region. It is listed among the PCIs (Projects of Common Interest) and is included as a leading project in the CESEC initiative (Central and South-Eastern European gas Connectivity). The governments of Bulgaria and Greece have recognised IGB as a ‘project of national importance’. The project is a key part of the strategy for greater integration of the gas markets, which includes interconnection projects Bulgaria - Greece, Bulgaria - Romania, Romania - Hungary.
Read the article online at: https://www.worldpipelines.com/project-news/16102019/icgb-completes-next-step-in-procedure-for-certification-as-an-independent-transmission-system-operator/