ICGB AD, project company developing the Gas Interconnector Greece-Bulgaria (IGB) and which is going to own the facility, equally controlled by IGI Poseidon SA of Greece and Bulgarian Energy Holding EAD of Bulgaria, announces the launch of the 2nd Bidding Phase of the IGB Market Test through the publication of the relevant Bidding Phase Guidelines on the company’s website (http://www.icgb.eu/market_test).

The Bidding Phase Guidelines have been approved by the relevant National Regulatory Authorities, namely EWRC of Bulgaria with Decision No.У-3 of 21 July 2016 and RAE of Greece with Decision No. 255/2016 of 28 July 2016.

The Expression of Interest Participants and TSOs will be directly informed, provided with the relevant documents and invited to participate in the Bidding Phase in accordance with art. 3 of the Bidding Phase Guidelines.

The Market Test is conducted in two phases. During the first phase, Expression of Interest Phase that was concluded by April 8th 2016, nine non-binding Expressions of Interest were received. The 2^nd binding Bidding Phase starts at this stage and will provide a process to confirm what will be the actual level of booked capacity on a preliminary contractual basis.