10 Oct , 2019

IGI Poseidon signs key agreements required for the full mobilization for the construction activities of the IGB gas pipeline

The Final Agreements for the start of construction activities of the Interconnector Greece-Bulgaria (IGB) were signed in Sofia today, in the presence of the Bulgarian Minister for Energy, Mrs Temenuzhka Petkova and the Minister of Environment and Energy of the Hellenic Republic, Mr Kostis Hatzidakis.

In addition to the Intergovernmental Agreement signed by the two Ministers, which sets out the conditions for the construction and operation of the IGB pipeline, the following agreements were signed:

  • The Revised ICGB’s Shareholder Agreement, signed by IGI POSEIDON Chairman Mr. Konstantinos Xifaras and CEO Mr. Pierre Vergerio, the ICGB AD Executive Officers Mrs Teodora Georgieva and Dr. Konstantinos Karagiannakos and by BEH's representative Mrs Ina Lazarova.
  • The Loan Agreement between the European Investment Bank (EIB) and BEH, as well as the EIB On-Lending Agreement between BEH and ICGB, under which the EIB loan will be transferred from BEH to ICGB.
  • Gas Transportation Agreements (GTAs) among the project company and shippers.
  • The contract for the supply of pipes with Corinth Pipeworks and
  • The Construction Contract with AVAX.