site.btaAnnual Tenders for Capacity of Greece-Bulgaria Interconnector to Be Held July 1

The independent transmission grid operator ICGB will hold annual tenders for the capacity of the gas link between Greece and Bulgaria on July 1, the operator said Monday. Quantities will be offered for five consecutive gas years, and capacity varies for different interconnection points - with the networks of Bulgarian operator Bulgartransgaz, Greece's DESFA and the Trans Adriatic Pipeline (TAP), respectively.

Traders will be able to reserve capacity in advance to transport quantities that will flow from the LNG terminal at Alexandroupolis in Greece once it is commercially operational.

The procedures will be conducted on two independent trading platforms, RBP and PRISMA. Less than two years after the start of commercial operation, the interconnector already has more than 40 registered users who can participate in the upcoming tenders, the ICGB added.

The Greece-Bulgaria interconnector has a total capacity of 3 billion cubic metres, with nearly 1 billion booked under a 25-year Azeri gas contract. The pipeline contributes to supplying more than 50% of Bulgaria's domestic natural gas consumption in the winter months, which reaches 80% in the summer season, the ICGB said.

The operator is currently conducting a market interest study to increase the total capacity to 5 billion cubic metres per year. This will allow the transmission of larger volumes of natural gas, further securing the country's domestic consumption and consolidating Bulgaria's role as a transit country to third countries. The binding phase of the process will take place after the annual auctions, with the deadline for submitting registration documents expiring on June 24, the statement added.