On Thursday 8 November, the European Commission approved a Greek-Bulgarian measure to support the construction and operation of a natural gas interconnector, with regard to EU State aid rules.
The move will create a gas interconnector, IGB, between Komotini (Greece) and Stara Zagora (Bulgaria), to transport 3 billion cubic metres a year of natural gas from the Hellenic Republic to Bulgaria by 2021. In the second phase, capacity may be increased and gas may also be transported from Bulgaria to Greece.
IGB will be owned by ICGB AD, controlled equally by IGI Poseidon, itself partly owned by the Greek gas operator DEPA, and BEH, its Bulgarian counterpart.
With total investment cost expected to stand at €240 million, Bulgaria and Greece will be participating financially in the project, through an unconditional state guarantee, direct financial contributions and a fixed corporate tax regime.
Taking the view that the project will help towards the EU's energy security targets and that it was necessary and proportionate but would not create a competition distortion on the gas market, the Commission considered that the measure was compatible with EU State aid rules, particularly its guidelines on State aid for environmental protection and energy. (Original version in French by Lucas Tripoteau)