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Dec 08, 2017 15:03 EEST
December 8 (SeeNews) - ICGB, the project company developing the Gas Interconnector Greece-Bulgaria (ICGB) said on Friday it is launching a 60 million euro ($70.4 million) tender for selection of supplier for delivery of line pipes for the project.
The tender includes the production, inspection, testing, shipment and documentation of the line pipes, ICGB said in a statement.
The project should be completed in 12 months.
All other services related to the pipe installation and additional materials will be purchased via a parallel running tender which will be announced at the beginning of 2018.
"With the launch of the public procurement for supply of line pipes, ICGB enters a key phase in the realization of the IGB Project, showing a serious and visible progress to its shareholders and customers," Teodora Georgieva, ICGB's Executive Officer for the Bulgarian part of the project, said in the statement.
The IGB pipeline will connect the Greek gas transmission system in the area of Komotini to the Bulgarian gas transmission system in the area of Stara Zagora.
The planned length of the pipeline is 182 km and the projected capacity will be up to 3 billion cu m per year in the direction from Greece to Bulgaria. Depending on interest from the market and the capacities of the neighbouring gas transmission systems, the capacity of the pipeline can be increased up to 5 billion cu m per year, thus allowing for physical reverse flow from Bulgaria to Greece with the additional installation of a compressor station.
The gas link is estimated to cost 220 million euro. The project company has secured a sovereign guarantee of 110 million euro under the annual state budget act, which could ensure loan financing under preferable conditions.
The project is being implemented by the joint venture company ICGB, in which state-owned Bulgarian Energy Holding (BEH) and Greece-registered IGI Poseidon hold equal shares. Greek public gas corporation DEPA and Italian energy group Edison own 50% each of IGI Poseidon.
($= 0.8519 euro)
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