The Greece-Bulgaria gas interconnector will “change the rules of the game” in the energy market, said Georgios Satlas, executive director and member of the board of directors of the project company ICGB AD, in an interview with ANA-MPA, 24Chasa. quotes

Independent transportation operator ICGB is responsible for the management and commercial operation of the pipeline, according to the company’s website.

“(The Interconnector) is responsible for diversifying energy sources by providing an alternative natural gas supply route to Bulgaria and other countries in Southeast Europe. Essentially, the pipeline allows these countries to reduce their dependence on a single gas supplier and diversify their energy sources.

Prior to the construction of the IGB, Bulgaria was heavily dependent on natural gas imports from Russia, making it vulnerable to potential supply disruptions, something we have seen firsthand,” Satlas told ANA-MPA.

He added that “in the new, reimagined security environment, energy independence and security through new and better connected infrastructure are more important than ever,” so the launch of the IGB was “of great importance beyond the state borders of Greece and Bulgaria.”

He said that this company is “working on a viable plan” to increase the capacity of the gas interconnector IGB (Gas Interconnector Greece–Bulgaria – IGB) from 3 billion cubic meters per year to 5 billion cubic meters per year. However, the implementation of these intentions, he explained, depends on market inspections, one of which is scheduled for the second half of this year, BTA informs.

When asked about the Memorandum of Understanding on the promotion of cooperation between the operators of the gas transmission systems of Bulgaria (Bulgartransgaz), Romania (Transgaz), Hungary (FGSZ), Slovakia (Eustream), as well as the State Oil Company of the Azerbaijan Republic (SOCAR), the executive director of ICGB AD said, that “about a year ago, in July 2022, the EU and Azerbaijan signed an agreement to double supplies to Europe to 20 billion cubic meters per year by 2027, and it is natural for the countries of the Southern Gas Corridor to seek agreements to support this goal.”

He added that the IGB plays an important role in the Memorandum and that “we hope that Moldova and Greece will join it.” Satlas also explained that “the accession of Greece, the host country of the IGB gas pipeline, will facilitate the connection to the critical infrastructure for transporting gas from Greece to Bulgaria.”

Satlas also mentioned the benefits that IGB will derive from the completion and operation of the floating storage and regasification unit (FSRU) in Alexandroupolis. The biggest benefit, he said, is that “the FSRU terminal in Alexandroupolis can help increase gas supplies for our pipeline.”

The resulting liquefied natural gas can be regasified and transported through the IGB, providing an additional source of natural gas for Bulgaria and possibly other countries connected to the interconnector, he said.

In the interview, Satlas also emphasized that the ICGB AD is open to the prospect of transporting hydrogen by pipeline, but details can only be provided after careful and thorough analysis.