Greece's J&P-Avax Submits Lowest Offer For Building Greece-Bulgaria Gas Link

Greece's J&P-Avax has offered the lowest price - 144.85 million euro ($162.5 million) in the tender for construction of the gas interconnector Greece-Bulgaria, the ICGB project company said on Tuesday.The other offer in the tender, submitted by a consortium named IGB-2018, is priced at 229.70 million euro, ICGB said in a statement.According to previous statements from ICGB, the IGB-2018 consortium comprises Italy's Bonatti and Bulgarian construction companies GP Group and Glavbolgarstroy International.The ICGB expects to pick a winner in May, after carrying out a detailed evaluation of the offers.The tender attracted expressions of interest from more than 10 candidates, five of which were selected by ICGB to submit offers in the second stage of the procedure.Besides J&P-AVAX and the IGB-2018 tie-up, three candidates were also invited to proceed to the second stage: consortium Max Streicher - Terna/ICGB, consortium Spiecapag Trace IGB 2018, and joint venture CPP-AKTOR.The IGB pipeline will connect the Greek gas transmission system in the area of Komotini to the Bulgarian gas transmission system in the area of Stara Zagora.