EC approves state support for Greece – Bulgaria natural gas interconnector

Written by on November 8, 2018 in Bulgaria - Comments Off on EC approves state support for Greece – Bulgaria natural gas interconnector

The European Commission said on November 8 that Bulgarian and Greek plans to support the construction and operation of a 182km cross-border gas interconnector (“IGB”) between Komotini in Greece and the Bulgarian town of Stara Zagora were in line with EU state aid rules.

IGB will be owned by ICGB AD, a 50-50 joint venture between the IGI Poseidon consortium (which includes Edison of Italy and Greek gas incumbent DEPA) and BEH, the Bulgarian gas incumbent.

The total investment cost for the IGB interconnector, which is designed to transport three billion cubic meters/year (bcm/y) of natural gas from Greece to Bulgaria by 2021, is 240 million euro.

Bulgaria and Greece notified the Commission of certain support measures to ICGB AD, which involve state aid within the meaning of EU state aid rules.

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(Photo: Marco Caliulo/sxc.hu)

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