ICGB and Linden with a contract for the transmission of natural gas for a period of 20 years
The independent transmission operator ICGB, which operates the Greece-Bulgaria commercial interconnector, has entered into a natural gas transmission contract with the American company Linden Energy LLC. The agreement is for a period of 20 years.
Linden Energy LLC is a US-based company with strategic interests in the regional natural gas market. The company recently finalized an equity stake in one of Bulgaria's largest natural gas suppliers and announced plans to build a regasification facility in Albania.
In the binding interest market test to reserve capacity from the Greece-Bulgaria interconnector that took place in 2016, Linden Energy LLC signed a long-term capacity reservation agreement under the IGB. In early October 2022, in sync with the start of commercial operation of the interconnector, ICGB and Linden Energy LLC reaffirmed the reserved firm capacity in the Greece-Bulgaria direction for a period of 20 years.
The inclusion of one more trader with a signed pipeline gas transmission agreement has a positive effect on the IGB transmission tariff. This is also to the benefit of the end users in Bulgaria, since since October 1, nearly a third of the domestic consumption of natural gas in the country is ensured through supplies under the IGB.
The interconnector has a total capacity of 3 billion cubic meters per year, more than half of which is already reserved under long-term contracts of up to 25 years. The remaining free capacity is offered at auctions on two of the leading European platforms - PRISMA and RBP.