The company ICGB AD was established on 5th January 2011 in Sofia to construct and operate the IGB gas pipeline ( a gas interconnector between Bulgaria and Greece).
Shareholders in ICGB AD are Bulgarian Energy Holding EAD (50%) and IGI Poseidon SA (50%). The Public Gas Corporation of Greece (DEPA S.A.) and EDISON International Holding NV are co-shareholders in IGI Poseidon SA having equal shares.
The IGB interconnector has a length of 182 km and a technical capacity of up to 3 bcm of natural gas per year with an option for increasing the transmission capacity to up to 5 bcm of natural gas per year by construction of a compressor station. The route of the project will be between the town of Komotini, Greece, and the town of Stara Zagora, Bulgaria. The IGB gas pipeline will connect the transmission systems of DESFA and TAP in Komotini, Greece, with the transmission system of Bulgartransgaz in Stara Zagora.
The IGB project is of extreme importance in terms of increasing the security of supplies and providing diversification of the supplies of gas for Bulgaria and the region of Southeastern Europe. IGB is on the list of projects of common interest and it has been included as a leading project in the CESEC initiative ( Gas Connectivity in Central and Southeastern Europe). IGB has been designated as a project of national interest by the governments of Bulgaria and Greece. The project is a key element in the strategy for bigger integration of gas markets which includes projects for interconnectivity between Bulgaria and Greece, Bulgaria and Romania, Romania and Hungary. ICGB AD has also been included in the European Energy Program for Recovery (EEPR) and a grant of EUR 45 million has been approved.
In 2013 the approval procedures for environmental impact assessment (EIA) were completed in both countries with positive decisions issued by the competent authorities on Bulgarian and Greek territory. In the period 2014-2015 the engineering and the approval procedures for the route for construction were completed for both territories and DSP-PP of the gas pipeline on Bulgarian territory entered into force.
In May 2015 the company started the procedures for acquisition of real rights /title, establishing easement rights and right of way. On 28 December 2016 the Council of Minsters adopted a decision for expropriation of 23 properties- private property required for construction of the technological sites of the gas pipeline.
The engineering design of the facility for the purposes of permitting construction has been completed on Greek territory.
In the first half of 2017 the procedure was completed for establishing real rights for the Bulgarian section of the gas pipeline for all land properties affected, 3800 approximately. Based on the completed expropriation procedures the permitting procedures for obtaining a construction permit on Bulgarian territory were started and the Construction permit for the Bulgarian section entered into force on 4.10.2017.