The operator of the Greece-Bulgaria natural gas pipeline, ICGB, launched the binding phase of market testing for expanding the pipeline’s capacity from 3 to 5 billion cubic metres annually.
In collaboration with natural gas transmission system operators, ICGB has published notices for the binding phase to gauge market interest in booking the pipeline’s incremental capacity, ICGB said in a press release.
The initiative is part of a broader effort to build a gas corridor linking Greece to northern Europe, joining TSOs from Greece, Bulgaria, Romania, Hungary, Ukraine, Moldova and Slovakia. ICGB aims to enable increased capacity for natural gas deliveries to Central and Southeastern Europe, as well as Ukraine and Moldova, it said.
Interested parties can submit their registration documents by June 24 and binding bids between July 2 and July 12. The binding phase will continue in the following months, with results expected in September.