ICGB сhief: Azerbaijani gas remains Bulgaria’s most competitive supply source

Teodora Georgieva, executive director of ICGB, the operator of Gas Interconnector Greece-Bulgaria (ICGB), stated on social media that Azerbaijani gas is currently the most competitive fuel on the Bulgarian market and represents the country’s main source of supply.

Georgieva underlined that the ICGB project has undergone a long and difficult journey, progressing from an atmosphere of mistrust and an absence of resources to full-scale implementation and stable operational status.

“Between 2015 and 2026, we went from a situation where there was no funding, no pipeline, no final investment decision, and only two employees working for the company, to the formation of a digital and sustainable operator providing energy supplies to Southeast Europe,” she noted.

She recalled that the early phases of the project were marked by a lack of financing and loans, a complicated shareholder and corporate governance model, as well as numerous geopolitical complications. According to her, the initiative also faced pressure from various interest groups, along with appeals, inspections, and repeated attempts to block its implementation.

“Despite this, the pipeline was built, the regulatory framework was established, and financing was secured. In 2022, against all odds, the ICGB was put into operation. Today, Azeri gas — the most competitive and Bulgaria’s main supply — flows freely and without interruption,” the ICGB Executive Director emphasised.

By Tamilla Hasanova