Energy Minister Skourletis: The construction of the IGB Pipeline will strengthen energy security in Greece and Bulgaria

The construction of the Gas Interconnector Greece-Bulgaria (IGB Pipeline) will strengthen energy security in Greece and Bulgaria, Energy Minister Panos Skourletis said on Wednesday during a visit in Sofia to discuss developments in the project with his Bulgarian counterpart and the company.

“The IGB pipeline will be valuable tool to strengthen the energy security of our countries and the region, but also of the European Union,” Skourletis said during a joint press conference with his Bulgarian Energy Minister Temenuzhka Petkova.

The event was part of the second phase of the pipeline’s market test, which includes the submission of binding bids by companies interested in using the pipeline and secure their desired capacity in it. During this stage, four more companies submitted bids additionally to the other nine that had participated in the first phase in April.

“The diversification of the sources and routes of energy supply is a key priority for the Bulgarian government and is important for at least two reasons: Because it means security of energy supplies, not only for Bulgaria but also for the wider region of SE Europe. Secondly, because it means competition and viability,” she said.

Petkova said the bidding phase has not been completed adding that the Bulgarian and Greek natural gas network administrators are currently devising rules so that these companies can participate in the second phase by meeting all the requirements for transparency and equitable participation.