ICGB Extends Deadline in Insurance Broker Selection Procedure
ICGB, the company developing the Gas Interconnector Greece-Bulgaria project, said that it has extended to November 13 the deadline for submission of offers for selection of an insurance broker for the project. The insurance broker will be responsible for the implementation of the insurance programme and other insurance policies for the project, ICGB said in a statement earlier this week. The Gas Interconnector Greece-Bulgaria will connect the Greek gas transmission system in the area of Komotini to the Bulgarian gas transmission system in the area of Stara Zagora. The planned length of the pipeline is 182 km and the projected capacity will be up to 3 billion cu m per year in the direction from Greece to Bulgaria. Depending on interest from the market and the capacities of the neighbouring gas transmission systems, the capacity of the pipeline can be increased up to 5 billion cu m per year, thus allowing for physical reverse flow from Bulgaria to Greece with the additional installation of a compressor station. The gas link is estimated to cost 220 million euro.