June 21, 2024
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HomeSEE Energy NewsBulgaria, ICGB launched tender for IGB pipeline insurance

Bulgaria, ICGB launched tender for IGB pipeline insurance

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ICGB, the independent operator of Greece-Bulgaria gas interconnection (so-called IGB gas pipeline), has launched a tender worth 2.7 million euros for insurance of the said pipeline.

According to tender documentation, the planned contract envisages insurance against all risks of property damage, including machinery breakdown and operation disruption.

The tender also covers general liability insurance, insurance against terrorism, sabotage, riots, strikes, civil disturbances and malicious acts. The deadline for bids submission is 21 March.

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Last month, Executive Director of ICGB Teodora Georgieva said that the capacity of gas interconnector has been booked at almost 94 %.

She said that, at the moment, the main source of supplies for the IGB pipeline is gas flowing through the Trans-Adriatic (TAP) pipeline.

About half of the 3 billion cubic meters per year capacity of the pipeline, namely 1.57 billion is booked under long- term contracts for up to 25 years. The rest in terms of free capacity is offered on the PRISMA and RBP platforms.

Commercial operation of the interconnector with annual capacity of 3 billion cubic meters of gas started on 1 October.

The gas interconnector between Greece and Bulgaria can have its capacity increased to 5 billion cubic meters, which will also allow for reverse flow in the direction of Stara Zagora – Komotini.

This requires the construction of a compressor station in Komotini, which will be ready in 2024, at the same time as the commissioning of the LNG terminal in Alexandroupoli in northern Greece.

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