70% of offered capacity of the Greece-Bulgaria gas interconnection (IGB) for the 2023-2024 gas year was booked, according to transmission system operator for the commercial operations, ICGB. The remaining 30% of the capacity will bavailable through quarterly, monthly and daily auctions.
The auctions were held on two major platforms offered available capacity for five consecutive gas years. There are several new shippers just entering the local market for the first time through booking capacity in the interconnector and we see this as a testament to IGB’s strategic role. In the auction launched at the beginning of the week, ICGB decided to offer quasi-yearly capacity at the interconnection point with the Greek transmission system operator DESFA, allowing for the transportation of quantities upon the expected launch of the liquefied natural gas (LNG) terminal at the Greek port of Alexandroupoli.
Out of its overall capacity of 3 billion cubic meters per year, the pipeline already has 1.57 billion cubic meters per year booked for the flow of gas to Europe under a long-term contract with Azerbaijan. ICGB has just launched a market test to gauge potential demand that would allow it to bring its total capacity for 5 billion cubic meters per year.
