TAP, Interconnector Greece-Bulgaria Sign Memorandum of Understanding

TAP, Interconnector Greece-Bulgaria Sign Memorandum of Understanding

The Trans Adriatic Pipeline AG (TAP) and Interconnector Greece-Bulgaria (ICGB), the company in charge of the development, financing and construction the Interconnector Greece-Bulgaria, signed a memorandum of understanding and cooperation, TAP said on Monday.
The memorandum aims at establishing the technical cooperation in order to further develop strategic infrastructure in the region, TAP said in a press release. It will allow for cooperation between the two companies who will work together on realising a possible interconnection point in the vicinity of Komotini in Greece. This will enable new gas supplies to flow into the Bulgarian gas network and further into the South Eastern Europe region.
“We welcome this agreement with ICGB and see it as an opportunity to transport Caspian gas to Bulgaria, thus enhancing diversification of supply and improving security of supply in the country and in the wider South Eastern Europe Region,” TAP's commercial director Lutz Landwehr said.
Following the signing of the memorandum, TAP and ICGB will start a cooperation focused on understanding the technical requirements of each project, exchanging views on best practices and on any other relevant issues that affect the development of either project.
TAP will transport natural gas from Shah Deniz II to Europe along an approximately 870 kilometre long pipeline that will connect with the Trans Anatolian Gas Pipeline (TANAP) near the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy. TAP’s routing can facilitate gas supply to several South Eastern European countries, including Bulgaria, Albania, Bosnia and Herzegovina, Montenegro, Croatia and others. The TAP partners are SOCAR (20%), BP (20%), Statoil (20%), Fluxys (16%), Total (10%), E.ON (9.0%) and Axpo (5.0%).

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