Baku Energy Forum - SOCAR’s role in IGB shows its trust in this project – ICGB AD EXEC

SOCAR’s role in IGB shows its trust in this project – ICGB AD EXEC


The participation of Azerbaijan’s state oil company SOCAR in the market test for capacity allocation of the interconnector Greece – Bulgaria (IGB) shows its trust in this project, Teodora Georgieva, executive officer at ICGB AD joint venture company, said in an exclusive interview with Trend.

SOCAR booked capacity in IGB, which shows its trust in the project and proves that IGB is recognized as a project playing a key role for the implementation of the Southern Gas Corridor project, she added.

"We are very much relying on our partnership between Bulgaria and Azerbaijan," added Georgieva.

She pointed out that the backbone of this partnership is the contract signed between Bulgaria’s Bulgargaz and SOCAR for supply of 1 billion cubic meters of natural gas per year from Shah Deniz 2.

Azerbaijan Gas International (AGI), a 100-percent subsidiary of SOCAR, applied for pumping Azerbaijani gas through IGB in September 2016.

IGB is a gas pipeline, which will allow Bulgaria to receive Azerbaijani gas, in particular, the gas produced from Azerbaijan's Shah Deniz 2 gas and condensate field. IGB is expected to be connected to the Trans Adriatic pipeline via which gas from the Shah Deniz field will be delivered to the European markets.

The initial capacity of IGB will be 3 billion cubic meters of gas.