Baku, Azerbaijan, March 24. ICGB, operator of
the Interconnector Greece-Bulgaria (IGB), is seeking a sustainable
financial model to support the pipeline’s expansion, ICGB’s
Executive Officer Teodora Georgieva said, as she participated in
the Energy of Tomorrow conference, Trend reports.
“Bulgaria is part of the integrated European energy market, and
every geopolitical shift has a direct impact on market conditions.
We see a clear trend – no trader is willing to commit to long-term
contracts of 10+ years anymore. Instead, the market is shifting
toward short-term solutions that offer greater flexibility to adapt
to changing conditions,” Georgieva stated.
This trend was evident in the binding phase of the market test for
the expansion of the IGB pipeline, where demand reflected a
preference for shorter-term commitments. Despite this, ICGB remains
committed to the strategic long-term role of the project’s
expansion and is actively seeking a sustainable financial model to
support it. According to Georgieva, the expansion of the IGB
pipeline is a key pillar of the Vertical Gas Corridor,
strengthening the overall security and diversification of the
European gas transmission network. To ensure the project’s
competitiveness without imposing a financial burden on network
users, grant-based funding will be essential for its realization.
“We are stronger when we are together, when we are truly integrated
and supportive”, she said.
ICGB continues to advocate for the integration of resilient
infrastructure that aligns with Europe’s long-term energy security
goals while adapting to evolving market needs.
The Greece-Bulgaria interconnector connects Bulgaria to the
Southern Gas Corridor and is part of the Vertical Gas Corridor. The
pipeline strengthens energy connectivity and security in the
region, providing access to natural gas from new, diversified
sources. Currently operating at 3 bcm/y, the pipeline has the
potential to expand its technical capacity up to 5 bcm/y. The
interconnector currently secures about 70 percent of Bulgaria’s
internal natural gas consumption and is a reliable route for
diversified deliveries to key markets such as Moldova and
Ukraine.
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