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7 Jan , 2014

IGB: IGI Poseidon’s subsidiary ICGB signs a Memorandum of Understanding with TAP

IGI Poseidon announces that its subsidiary ICGB AD (ownership at 50-50 with Bulgarian Energy Holding EAD), the company in charge of the development, financing and construction the Interconnector Greece-Bulgaria (IGB), has signed with Trans Adriatic Pipeline AG (TAP) a Memorandum of Understanding and Cooperation (MoUC) aimed at assessing the technical aspects of the possible interconnection of the two infrastructures.
The IGB  Pipeline is designed to provide a bidirectional link between the national natural gas systems of the Republic of Greece and the Republic of Bulgaria operated respectively by DESFA SA and Bulgartransgaz EAD.
The MoUC executed with TAP evidences the strategic relevance of the IGB Project and further increases its capability of providing diversification and security of supply to Bulgaria and other South-East Europe Countries.