Construction of the IGB pipeline is in the “ultimate final stage”

Construction of the IGB pipeline is in the “ultimate final stage”

“The construction of IGB, a gas interconnector between Komotini and Stara Zagora in Bulgaria, is the final stage, since according to the schedule the tenders for the two parts of this very important and with huge impact project, are expected to be concluded in a couple of months, then become validated and start construction”, said Greek Minister of Energy and Environment, Giorgos Stathakis.

At the same time, as he noted, regarding the “Floating Storage Regasification Unit – FSRU Alexandroupolis, the second and final market test to confirm the investment interest for the LNG entry project in the country and the wider region is pending. We have a commitment with regards to quantity, so its viability is guaranteed and will go ahead”.

At a news conference in Alexandroupolis, the minister said, inter alia, that “Greece and all European countries will change both production and energy consumption. As such, energy saving is transformed into a prime field of a very large investment cycle and a huge effort to save energy in all activities: housing, transport, tourism, industry”.

Referring in particular to the question of the interconnection of the islands, Giorgos Stathakis said that “Greece has made great strides in the interconnections of the islands, where there had been great shortages. 10% of our energy is produced in the islands with oil, which must end in 2020, based on the agreement with the European Union, so we had to accelerate the interconnections in the last three years and we did this in record time in the Cyclades, Mykonos and other islands. A second phase will follow in the Cyclades. The construction of the small interconnection of Crete has begun, while the large interconnection will be announced. This means huge investments and an unprecedented mobility of IPTO (Independent Power Transmission Operator)”.

On hydrocarbon research and diversification of energy sources, the Greek official highlighted the fact that “Greece is based on Russian gas. With the TAP pipeline, LNG facilities in Revythousa, FSRU in Alexandroupolis, the country will have another potential to get LNG or gas from other sources”.

“Greece – finally, after Egypt, Israel, Cyprus, enters the map of the Eastern Mediterranean as a strong area that will produce hydrocarbons, primarily for the European market that will be in deficit for the next 30 years”./ibna