Linden Energy books firm capacity in Greece-Bulgaria link
US-based energy development company Linden Energy recently finalised its commitment to use 10% of the capacity of the newly-commissioned Interconnector Greece-Bulgaria (IGB) pipeline under a 20-year contract. The move comes after the US company in August completed its agreed acquisition of 50% of privately-held Bulgarian natural gas supplier Overgas Inc.
The deal, seen to be paving the way for the parties’ intended expansion in the Western Balkans, was agreed in July 2021. It was made possible after the board of Gazprom approved the disposal of the Russian gas supplier’s indirect and direct holding in Overgas for EUR 15,5 million euro (USD 15,4 million).
“The IGB pipeline is key to the diversification of gas markets in Bulgaria and throughout the region. This pipeline will be integral to our objectives with Overgas, and we are excited to see it become utilised in connection with the Revithoussa terminal in Greece,” Linden Energy founder and president Stephen Payne said.
LATEST issue 3/2023