BAKU, Azerbaijan, Jan.7
By Leman Zeynalova – Trend:
Greek and Bulgarian energy ministers will meet to find out how to speed up the construction of the IGB gas interconnector and save at least the average extended deadlines, Trend reports with reference to Bulgarian media.
Bulgarian Energy Minister Alexander Nikolov said at a briefing that the lack of IGB is a convenient explanation for people who use as a reason not to have normal supplies and normal prices in Bulgaria.
“And this will be cleared up, I promise you,” he said.
The agreed quantities from Azerbaijan amount to 1 billion cubic meters per year or 2.7 million cubic meters per day, and according to Nikolov, ICGB AD will certainly not be able to deliver the amount of natural gas during this heating year.
The Minister of Energy stressed that he is seeking compensation from the company building the Greece-Bulgaria interconnector.
The IGB project enables the transmission of gas and supplies from new sources, making it key to Bulgaria's energy security and part of the national plan for diversification of gas sources. The capacity of the project is 3 billion cubic meters with the option to reach 5 billion cubic meters. Half of the capacity of the interconnector is already reserved, as four of the shippers are completely new to the Bulgarian market. A contract has been signed for the supply of 1 billion cubic meters from Shah Deniz 2 based on a long-term contract with Bulgargaz.
The conclusion of the contract for construction of the interconnector dates back from the end of 2019, as one of the main commitments of the project company in structuring IGB is the obligation to control costs within the approved budget, which will ensure competitive transmission for customers. The delay in construction activities and the approved update of the construction schedule for the end of 2021 are due to objective reasons related to the global coronavirus pandemic and do not lead to direct losses. The established alternative route through the Greek system and Siderokastro provides a temporary solution for servicing the contract with Azerbaijan until IGB is put into commercial operation.
---
Follow the author on Twitter: @Lyaman_Zeyn
