Unless the ICGB pipeline is commissioned by June 20, 2022, the Azeri company may trigger a penalty clause in the agreement and draw down on a substantial guarantee furnished by Bulgargaz and the Bulgarian Energy Holding (BEH) (in the amount of tens of millions of dollars monthly).
(DF) Unless Natgas Interconnector with Greece Is Operational by Mid-2022, Bulgaria May Incur Substantial Penalties from Azeri Supplier
