The project includes construction of trans-border reverse gas pipeline with length of about 168.5 km (140 km in Bulgaria, 28.5 km in Greece), connecting the Greek gas network in the area of Komotini with the Bulgarian gas network in the area of Stara Zagora. The capacity of the gas pipeline is foreseen to be 3 up to 5 billion m3/year, the pipe diameter is 700 mm (28").
The total indicative value is 150-160 million. Funding is secured for the project of European Energy Programme for Recovery in the amount of EUR 45 million (Decision C (2010) 5813 of the European Commission on 30.08.2010).
On July 14 2009 a Memorandum of understanding is signed between the companies "Bulgarian Energy Holding" EAD, EDISON and DEPA, which defines the principles for development and realization of the project. A Memorandum for understanding is also signed between BEH EAD and the Greek gas distribution operator DESFA, which foresees natural gas supplies for the Bulgarian market through utilization of the capacity of the Greek LNG terminal Revitusa, gas interconnection Greece-Turkey, as well as capacity in the Greek national gas network if required by the Bulgarian country in compliance with the national legislation.
In January 2011 was registered a joint company "ICGB" AD between "Bulgarian Energy Holding" EAD and IGI Poseidon (50% EDISON and 50% DEPA). BEH EAD and IGI Poseidon are the shareholders with equal shares. The joint company will construct, own and operate the infrastructure and is responsible for developing, designing, financing, construction, commissioning, operation and maintenance of the new gas interconnection IGB.
The pipeline design activities and preparation of the EIA is expected to be met for a period not exceeding 13 months.
With Council of ministers Decision №615/14.07.2009 the part of the pipeline which will be implemented on Bulgarian territory is announced for site of national importance.
In November 2010 the Council of Ministers decides to create a joint venture between "Bulgarian Energy Holding" EAD and IGI Poseidon (Greece). The shareholders in IGI Poseidon are EDISON (50%) and DEPA (50%).
Under the developed roadmap the pipeline will be put into operation in December 2014.
Direct effects of the construction of the Interconnection Pipeline are to achieve real diversification of sources of supply of natural gas to Bulgaria, to allow for delivery of natural gas in the Southern Gas Corridor and LNG sources, expanding the scope and participation of the country's second priority European gas project, part of the Southern Corridor - Turkey, Greece and Italy.