Gas Interconnector Greece-Bulgaria (IGB Project) - an alternative supply route to South East Europe by 2014 - Jordan Georgiev Deputy-Chairman ...
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Gas Interconnector Greece-Bulgaria
(IGB Project) – an alternative supply
route to South East Europe by 2014
Jordan Georgiev
Deputy-Chairman – ICGB AD
Athens, 28 March, 2012
27032012 Economist FINAL.pptx 1
Bulgaria develops key regional gas interconnectors in order to
open the Southern gas corridor in the coming years
• Main national goal is to secure competitively
priced gas from alternative suppliers
• Bulgaria and SEE will have connected to an
IBR alternative supply route already in 2014 at a
relatively limited cost
• Completion of interconnector projects will impact
regional security of supply and import price
IBS
competitiveness
ITB • SEE shall be in a position to source pipe gas from
the Caspian region, Middle East via Turkey &
IGB Greece, and LNG through existing or new import
terminals available in the region
Intercon GR-BG (2014): EIA, Technical Design, Permits
Intercon BG-RO (2013): Technical Design, Permits
Intercon TR-BG (2014): FS phase
Intercon BG-SR (2015): FS phase
27032012 Economist FINAL.pptx 2
IGB – planned as pipeline into SEE for natural gas sourced from
Southern Corridor and LNG producers to be available in 2014
Comments
SEE will be connected with existing supply corridor from Caspian
Region and Middle East through Turkey and Greece
Supply route for gas from LNG producers, imported through
existing/new re-gas terminals in Greece and/or Turkey
IGB not interrelated with large production base - scalable
IBR
capacity for incremental supply to SEE in combination with
Interconnectors under development – IBR (BG-RO), IBS (BG-
IBS SER)
IGB Key facts and figures
LNG
Proposed Length – 180km (150km in BG, 30km in Greece)
LNG
Route – Komotini (GR) – Haskovo (BG) - Stara Zagora (BG)
Capacity – up to 3 bcm/y (option for capacity increase to 5
bcm/y)
LNG . Capital costs – ~200 m EUR (as per initial estimate under
FEED)
LNG
First gas – 2014
27032012 Economist FINAL.pptx 3
Asset Company “ICGB” AD is advancing with the Project permitting
process allowing for entry in investment phase by end of 2012
2010 - 2011 2012 - 2014
Pre-investment and FS Studies in the Greek and EIA Decisions in Bulgaria and Greece by end
Bulgarian section completed of Q3 2012
Project approved for EU financing under EEPR Final Route Design approvals in the two
IGB Project Agreements negotiated and signed countries by Q4 2012
BEH EAD, DEPA S.A & Edison SpA complete IGB End of 2012 – ICGB Decision to launch
Project implementation plan investment phase (final investment decision)
Establishment of “ICGB” AD – JV to finance and End of 2012 – award of line pipe, other LLI
implement the Project contracts
Initial EIA authority consultations in Bulgaria completed Award of EPC Contract in early 2013
EIA & FEED implementation launched End of detailed design and start of
construction within H2 2013
PEIA study in Greece completed
Construction planned to last for approx. 1 year
50% of EIA study in Bulgaria completed
In service targeted by H1 2014
Line pipe suppliers pre-qualified
27032012 Economist FINAL.pptx 4Interface Cooperation Agreements signed with neighboring
transmission operators DESFA S.A. and Bulgartransgaz EAD
“ICGB” AD has entered into cooperation agreements with
the Greek and Bulgarian TSOs to arrange connecting the
future IGB pipeline with the two neighboring systems
Existing and future technical capacity at the IGB inlet and
outlet points reflected in FEED Study, incl. maximum
volume of gas capable to reach IGB inlet and be
transported into and out of the Bulgarian system
“ICGB” AD Bulgartransgaz EAD, a company within BEH Group, is
implementing IBR and IBS projects & updates on their
progress to ensure coordination of overall transit route
development along with IGB
Before commissioning of IGB, the Bulgarian National Gas
Transmission System will remain under-utilised to the level
of ~ 5 bcm/y of free capacity
27032012 Economist FINAL.pptx 5Conclusion: IGB Project - earliest, less cost intensive pipeline to
open an alternative gas supply route to Bulgaria and SEE region
IGB capacity scaled to supply No sufficiently developed mid-
IGB remains a national and EU
gas without a large production term option for alternative
priority
source supply to SEE apart from IGB
• Co-financing designated under • Project is capable to tackle • Currently the SEE region cannot
European Energy Programme for regional lack of suppliers diver- rely on short implementation
Recovery sification in a mid-term supply projects in their design
perspective engineering & permitting phase
• Has the status of a project of • Technical capacity is scaled to apart from IGB
National Importance under regional market needs and
Bulgarian Council of Ministry already available non off-taken • IGB`s implementation plan is
Decision 615/14.07.2009 & gas, e.g. free Caspian volumes reflecting the lack of viable
Greek Law 4001/2011 alternative supply routes to SEE
• Shareholders shall target a trans- in the next 5-7 years
• IGB has clear regional impact mission cost reflecting need for
and remains the only competitively priced gas supply to • Pipeline shall provide a supply
infrastructure in design phase Bulgaria & SEE route under EU legal regime, less
capable to diversify gas imports • Shareholders do not link invest- technically complex, structured to
of SEE in short to mid-term ment decision with particular be accessible from multiple
perspective production base supply sources
27032012 Economist FINAL.pptx 6You can also read
