DEPA: Agreements signed on Greek-Bulgarian gas pipeline

Gas company DEPA said on Friday that several agreements were signed in Sofia on Friday regarding the construction of a gas pipeline with Bulgaria, known as IGB.

A cooperation agreement was signed between IGB and TAP for connectivity of the two gas pipelines, while, a joint declaration was also signed between the shareholders in the project company for confirming a commitment to start construction, DEPA said in a statement.

Additionally, a Memorandum of Understanding between the Bulgarian Energy Holding (BEH) and the European Investment Bank (EIB) was signed regarding the realization of the IGB project. The memorandum concerns securing preferential loan financing in connection with using the state guarantee of Bulgaria (expected 110 million euros) and is a key step in IGB’s realization. The preferential loan is one of the main sources of funding for the project.

Lastly, there was a cooperation agreement for interconnection between ICGB and DESFA, laying grounds for defining the relations between both countries for reaching an agreement on the physical connectivity between DESFA’s gas pipelines and IGB.