Energy Gateway for Southeast Europe - Greece Expects Important Developments for Liquid Gas
Within this year, significant developments are expected towards securing Greece's role as the energy gateway of Southeast Europe and, in particular, as an entry point for liquefied natural gas that will be gasified and channeled to countries in the region through the Greek system.
The “key” to the whole issue is the activation of the “vertical” corridor that starts in Greece and ends in Ukraine, and in particular the three routes (with respective starting points from the liquefied natural gas stations of Revithoussa, Alexandroupolis and the connection point with TAP).
The last auction held in December to reserve capacity in the pipeline systems running from Greece to Ukraine failed to attract interest from suppliers, attributed to legal and regulatory issues. The auctions that will follow this year will be critical tests for the resolution of these issues by the competent services in Brussels and the attraction of business interest.
However, the issue is directly linked de facto to the EU's commitment - under the trade agreement with the US - to purchase liquefied natural gas, oil and nuclear energy products worth $750 billion by 2028. Achieving the goal requires full use of the vertical corridor. This means that over time, if there is no progress, it is possible that the American factor will intervene with the European Commission to eliminate unresolved issues.
The same sources also reported that the process of increasing IPTO's share capital will soon begin in order to secure the necessary funds to finance the Operator's investment program. These are investments of over 6 billion euros until 2030, focused on the development of international and domestic interconnections and the modernization of the network.
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