ICGB, the firm that will function commercially the gasoline interconnector with Greece, is introducing a two-tier administration mannequin – a key requirement for certification obtained from the 2 nationwide power regulators to take impact

Report informs, citing the company, that the move comes in response to the necessities to rework the undertaking firm into an impartial transmission operator.

“After a General Assembly of the corporate’s shareholders (BEH and IGI Poseidon), a brand new Statute of the corporate was additionally adopted. The modifications are a part of ICGB’s obligations underneath the corporate’s certification by the nationwide power regulators of Greece and Bulgaria, which was introduced earlier in July.

At the General Assembly, a brand new government officer from the Greek facet was elected and the members of two newly created constructions – the Management Board and the Supervisory Board of the corporate – have been permitted. The newly elected members of the corporate’s two boards have been nominated for regulatory approval in March 2022 as a part of ICGB’s certification course of as an impartial transmission operator,” the company said.

The firm continues to be represented by two Executive Officers – Teodora Georgieva stays the consultant from the Bulgarian facet, and Georgios Satlas turns into the Executive Officer from the Greek facet. Satlas, a Mechanical Engineer (NTUA) with an MBA diploma, possesses a number of years of managerial expertise within the monetary sector, having handled a particularly wide selection of principals within the fields of funding and actual property administration. He has been a high-ranking government within the Greek sovereign wealth fund, in addition to in subsidiaries of all 4 systemic Greek banks.

“I’m becoming a member of the IGB undertaking at a particularly dynamic, but in addition very key stage of its growth throughout turbulent occasions for the European power sector. This would be the most high-tech gasoline pipeline in Bulgaria and, on the similar time, a totally new route for the import of pure gasoline to Southeastern Europe, offering new options and power flexibility for the area. Through IGB, Greece and Bulgaria will place themselves in a totally new method on the gasoline map of the area, and I’m honored to be part of this course of,” mentioned Satlas.

A key requirement for the Executive Officers is that for a interval previous to taking over this place, they haven’t been a part of a vertically built-in enterprise that’s associated to any of ICGB’s shareholders. The earlier Executive Officer from the Greek facet, Konstantinos Karayannakos, is a part of the staff of the Greek DEPA Commercial S.A., which necessitates the change from the Greek facet.

“The implementation of the gasoline interconnector Greece-Bulgaria is an extraordinarily necessary component of the general European power technique for the area and is among the many high priorities of the 2 nationwide governments,” Karayannakos said.

Georgieva and Satlas are additionally members of ICGB’s Management Board, which consists of a complete of 4 members. Two other representatives nominated by the shareholders are Tanko Stanilov and Giuseppe Macri. Stanilov has over 10 years of expertise as a Regional Manager at “Toplivo Gaz” EOOD. Macri joins the ICGB Management Board following his employment on the Trans-Adriatic Gas Pipeline (TAP), the place he held the place of Commercial Operations Manager.

Veselin Petrov, Panagiotis Rizos, Angel Yankov, Momchil Vanov, Fabio Santambrogio and Georgios Polychroniou have been elected as members of the newly established Supervisory Board of the corporate. The nominations have been made on a parity foundation by the shareholders – BEH and IGI Poseidon.