Deadline for Bids to Use Greece-Bulgaria Gas Pipeline Extended

The deadline for binding offers for the use of the natural gas pipeline between Bulgaria and Greece has been extended by a month to the end of November due to requests from bidders, the joint venture that runs the project said on Monday.

Interconnector Greece-Bulgaria (IGB), estimated to cost 220 million euros ($240.68 million), has received nine expressions of interest to transport gas through it for a total capacity of 4.3 billion of cubic meters.

Earlier this month Bulgarian Energy Minister Temenuzhka Petkova said four companies that have not participated in the first phase of the market test, have said they are interested in bidding, pending a nod from Bulgarian and Greek energy regulators.

Bulgarian state-owned energy holding company BEH has 50 percent in the joint venture, which will build the IGB pipeline, while Greek state energy firm DEPA and Italy's Edison hold 25 percent each.

The three shareholders in IGB, as well as Austria's OMV , Greece's Gastrade, U.S. Noble Energy and Azerbaijan's SOCAR have expressed an interest, among others.

Bulgaria and Greece last year agreed the decision to build the 182 km pipeline, which will help Sofia cut its almost total dependence on Russian gas and improve the security of its supplies. The gas link is expected to become operational in 2019. 

(Reporting by Tsvetelia Tsolova)