Showing posts with label IGB. Show all posts
Showing posts with label IGB. Show all posts

4/01/2016

Six Companies Submit Offers to Use Bulgaria-Greece Gas

Bulgaria's Energy Minister Temenuzhka Petkova. File photo, BGNES 


Πηγή: novinite
April 1 2016

Bulgaria's government has received six indicative offers to use capacity of the gas interconnector that is to be built between Bulgaria and Greece, Energy Minister Temenuzhka Petkova has said.

These include Bulgaria's national gas supplier Bulgargaz, Greece's DEPA, Italy's Edison, Azerbaijan's SOCAR, US-based Noble Energy (working at Cyprus's offshore gas deposit), and Greek utility company Gastrade.

Petkova, quoted by the Bulgarian National Radio, has told reporters the interconnector's capacity booked through queries, amounting to some 4 billion cubic meters, already exceeds the projected real capacity it is designed to have after completion.

Bulgaria and Greece are currently finalizing the first stage of building the Interconnector Greece-Bulgaria (IGB), which authorities in Sofia hope will provide access to the future Southern Gas Corridor and reduce dependence on Russian supplies.

Due to continuing interest, the deadline for indicative queries has been extended to April 08, and options are being explored by the two countries to boost the planned capacity to 5 billion cubic meters of gas a year, up from 3 billion cubic meters envisaged in the initial agreement.

By mid-2016, the second stage of the project, which includes the submission of binding offers, should also be completed.

IGB is "related to the security of supplies, a project that is extremely important in terms of market development", Petkova has also said.

The IGB project is being carried out by the Bulgaria-registered company ICGB, a joint venture of the Bulgarian Energy Holding and a IGI Poseidon, a company of Italian gas supplier Edison and Greece's DEPA.

Construction is to begin this October.





10/28/2015

Bulgaria-Greece Gas Link Gets BGN 215 M in State Guarantee



Πηγή: novinite
28 Oct 2015


Bulgaria's government is to issue guarantees worth BGN 215 M (EUR 109 M) for the Interconnector Greece-Bulgarai (IGB) project in 2016, the cabinet's press office has said.

The decision, announced at a Wednesday cabinet meeting, has turned IGB into the single state-guaranteed investment project for which the government will secure funding by taking out more loans.

As of 2015, government guarantees earmarked for the project are BGN 157. The increase is explained with the need to optimize the project's financial structure to improve economic competitiveness.

IGB was approved for funding both this and last year, but the start of construction suffered delays due to technical issues.

Sofia and Athens had voiced intentions to secure its start this summer, but the political situation in Greece, with the debt crisis and early elections, temporarily took it off the agenda.

The government on Wednesday said it had included it in the 2016 budget draft "considering its strategic importance for gaining access to alternative sources of gas supplies and supply crisis prevention, respectively [crisis prevention] of the Bulgarian economy."

IGB has also been encouraged by Washington, with US Secretary of State John Kerry pledging in January to assist in securing EU funding for the interconnector.

Earlier in October, three-way talks took place in Athens with the energy ministers of Bulgaria and Greece and US special energy envoy Amos Hochstein.


7/18/2012

Greek Environment Ministry Okays Bulgaria Gas Link

Bulgarian President Rosen Plevneliev (left) with President Karolos Papoulias during the former's official visit in Greece on  5th of July 2012

Πηγή: Turkish Weekly
July 16 2012

Greece's Ministry of Environment, Energy and Climate Change has approved a preliminary environmental report on the construction of the gas link that is to connect Komotini to Bulgaria's Stara Zagora.

The gas link will pose limited, short-term and reversible environmental consequences for the region, Greek authorities believe, according to Phantis.

The 180-kilometer (112-mile) link run from Komotini in Greece to Stara Zagora in Bulgaria will be open to ship gas from the Caspian, the Mediterranean, or from a liquefied natural gas terminal in Turkey.

The gas link will have a transportation capability of 3.0 billion cubic metres of gas annually, with an option of rising 5.0 billion. A metric station will be built in Komotini.

The project will be build by Interconnector Greece Bulgaria (ICGB) company, comprising of IGI Poseidon (a joint venture by DEPA and Italy's Edison) and Bulgarian Energy Holding.

Bulgaria moved to link its natural gas grid to that of its neighbors after the January 2009 gas war between Russia and Ukraine, which cut off the Russian gas supplies to Bulgaria for full three weeks leaving it without natural gas in the middle of the winter.



7/16/2012

BP Ventures to Greece - TAP on the Table


Πηγή: Natural Gas Europe
July 16 2012

Senior BP officials involved with the Shah Deniz consortium recently travelled to Athens to meet with Greek governmental officials to discuss the prospects of the Southern Corridor and specifically, the potential role of the Trans Adriatic Pipeline in the movement of natural gas from the Azeri field.

Alasdair Cook, BP's Vice President for Shah Deniz Full Field Development (FFD) recently revealed that the company will take a "substantial" stake in the pipeline project, after it dropped plans to pursue its SEEP project.

The Shah Deniz consortium has also indicated interest in acquiring a stakeholding in TAP’s competitor, the Nabucco West pipeline, indicating that the consortium will, either way, hold an interest the winning proposal to bring gas from the Caspian Sea to Europe.

Cook and BP political adviser John Baldwin, met with Greek energy minister Makis Papageorgiou (a former chairman and chief executive of  DEPA, the natural gas supply corporation of Greece) to discuss the position of the new Greek government.

According to well-placed sources, BP is seeking a trilateral joint declaration by the governments of Greece, Italy and Albania in favor of TAP.

Mr. Cook noted in statements to the local press that BP has four distinct points to offer to Greece, should it support TAP.

Firstly, it would allow for the placement within the country the critical EU project of the Southern Corridor. Secondly, it would provide for the diversification of Greece's natural gas imports by the importation of Azeri gas. Thirdly, it would provide increased competition within the domestic gas market and fourthly, it would provide a large infrastructure investment that is sorely needed for an ailing Greek economy.

Cook noted that binding governmental support is required so as for the project's partners to be able to consider the country as a preferential territory for the pipeline.

Furthermore Cook said that BP is closely looking into the process of  DEPA's pending privatization, whose prospects would be enhanced by the import of Azeri gas. Moreover DEPA's entrance into the TAP consortium, would be welcomed.

TAP could also compliment the Greek-Bulgarian Interconnector (IGB) which is scheduled to be operational next year, a clear indication for leverage for this pipeline in light of the wider diversification criteria that the EU is seeking for Southeastern Europe.

The Greek Minister indicated a position of encouragement towards TAP, without binding Athens for the time being. The recently formed government is a coalition of three parties with diverging energy policies, and it speculated it will take some time before a joint stance is found.

BP's officials also met with Ioannis Maniatis, Secretary of the PASOK party and former Deputy Minister for the Environment, Energy and Climate. During the talks, Maniatis spoke to Greek position in detail.

Maniatis mentioned geopolitical issues to be addressed along the Southern corridor's route, the potential involvement of DEPA into the project, the details around the import of Azeri gas under long-term contracts and the pros and cons between TAP and Nabucco West relating to the supply of the Balkans.

BP's point of view was to note of the points raised and agreement was reached for further visits to Athens in order to clarify the points under which both sides can have a solid cooperation.

Although the full transcripts of both meetings with Papageorgiou and Maniatis were not released, sources from the Greek Ministry of Energy indicate that we are in the beginning of a long-process of negotiations, since the policies relating to TAP have to take into account several other important factors, such as DEPA's privatization, the role and the stance of both Italy and Russia and the specific needs of each Balkan state. Lastly the relations between Greece and Turkey are another point, that requires the consideration of the Greek side.

Shah Deniz consortium is due to take its final decision on which pipeline, TAP or Nabucco West, will transport Azeri gas to Europe, by May 2013.