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    Reference: 20140376
    Release date: 2 July 2018

    Promoter – Financial Intermediary

    ICGB AD

    Location

    Description

    The project consists of the financing of the Greece-Bulgaria gas interconnector (IGB Interconnector) to provide another direct link between the national natural gas systems of Greece and Bulgaria.

    Objectives

    The project will contribute to the enhancement of the security and the diversification of gas supplies for both Bulgaria and Greece and Southeastern Europe (SEE region) and represent a key part of the strategy for greater integration of gas markets within the European Union.

    Sector(s)

    • Energy - Electricity, gas, steam and air conditioning supply

    Proposed EIB finance (Approximate amount)

    EUR 110 million

    Total cost (Approximate amount)

    EUR 240 million

    Environmental aspects

    It is a requirement that all sub-projects must be implemented in compliance with EU environmental legislation and the promoter has identified those sub-projects for which it considers an environmental impact assessment (EIA) is required. Should any sub-project have a negative impact on an area forming part of the Natura 2000 network (falling under the Habitats Directive 92/43/EEC or Birds Directive 2009/147/EC), the Bank would require the promoter to act according to the provisions of the aforementioned directives as transposed into national law. These matters will be clarified during the appraisal.

    Procurement

    The Bank will require the promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2014/25/EU and related Directive 92/13/EU) as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.

    Status

    Signed - 10/10/2019

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Bulgaria Greece Energy