Greece and Bulgariahave signed a development agreement outlining the precise steps and schedules for the development of the 160 km Greece - Bulgaria Interconnection Pipeline (IGB), proposed to transport gas from Komotini, Greece, to Stara Zagora, Bulgaria.
The pipeline will provide gas supply from the Turkey - Greece - Italy Interconnection Pipeline, which imports gas from the Caspian region and the Middle East to Bulgaria and the Balkan countries.
The pipeline will have a capacity to transport between 3 and 5 Bcm/a and is due to come into operation in 2013.
IGI Poseidon - owned jointly by Greek energy company DEPA and Italian energy company Edison International Holdings - and Bulgaria Energy Holdings both hold a 50 per cent interest in the pipeline project.