Greek-Bulgarian gas link operator joins PRISMA

Greek-Bulgarian gas link operator joins PRISMA

The operator of a gas pipeline under construction to link the Greek and Bulgarian gas markets has joined the European platform Prisma for the auctioning of transport capacities, Prisma announced on 25th January.

Interconnector Greece Bulgaria (ICGB) joining Prisma “represents an important step towards integrating the Eastern European market into our well-established community of European operators, thereby increasing gas market harmonization and transparency”, said Gotz Lincke, managing director of the platform. in a report.

ICGB will allow Bulgaria to tap gas from Greek LNG terminals and potentially Azeri supplies delivered through the Southern Gas Corridor, breaking Gazprom’s monopoly on the country’s gas market. Initially, the pipeline will transport up to 3 billion m3/year of gas, but its capacity could later be extended to 5 billion m3/year.

The pipeline was expected to be completed in 2020, but there have been construction delays. According to the most recent schedule indicated by the ICGB, the pipeline will begin transporting gas in July 2022.

ICGB said separately that more than half of the interconnector’s capacity, some 1.57 billion m3had already been booked.

“Four of the five shippers that have reserved capacity are entirely new to the Bulgarian market and this leads us to believe that international and market interest in the project will only grow after its commercial launch,” ICGB said.

PRISMA federates 19 European gas markets, hosting more than 40 infrastructure operators with the participation of 660 shippers.

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