Greece Bulgaria Romania Hungary Agree To Boost Gas Grid...
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In a document shared with other EU member states this week, Italy, Poland, Greece, Belgium and Slovenia proposed two options: either a far lower fixed price cap of 160 euros/MWh, or a "dynamic price cap" that could fluctuate in response to existing liquefied natural gas price benchmarks.
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BRUSSELS, Dec 2 (Reuters) - European Union countries will consider on Friday a proposal for a gas price cap slightly lower than a Brussels proposal that some view as too high, with a handful of countries pushing for an even lower limit, documents seen by Reuters showed.
"In coordination with DESFA, we have the opportunity things to do in Pelion increase this capacity (to) up to 5 billion cubic meters per year," two senior executives at ICGB said, adding this should happen along with the commissioning of the LNG terminal off Alexandroupolis due in 2024.
EU gas prices have soared this year as Russia slashed gas deliveries to Europe following its invasion of Ukraine, prompting governments to spend hundreds of billions of euros to cushion their economies from the surge in energy costs.
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ICGB, the owner of a second gas link between Greece and Bulgaria (IGB) - a key part of the Vertical Gas Corridor which began operations this year - and Gastrade, the developer of a floating storage and regasification unit off the northern Greek port of Alexandroupolis, minibus taxi Dion also signed the agreement on Thursday.
The revised proposal, seen by Reuters, would also extend the cap to cover not only the front-month gas contract, as the Commission proposed, but contracts with expiry dates as far forward as a quarter-year.
But while EU countries have already agreed a raft of emergency energy measures, including requirements to fill gas storage to prepare for winter, minibus taxi Dion diplomats expected tough negotiations on the price cap and some were doubtful a deal could be struck in time for a Dec.
Some countries criticised the original EU proposal, including suggestions it was designed with such a high price and with criteria so strict that the cap would never be triggered, and thus fail to cushion their economies from price spikes.
The Commission last week proposed a gas price cap that would kick in if the front-month Title Transfer Facility (TTF) gas price exceeded 275 euros ($289) per megawatt-hour for two weeks and was 58 euros higher than a liquefied natural gas reference price for 10 days.
Under the memorandum of understanding signed on Thursday on the sidelines of a liquefied natural gas (LNG) conference in Athens, Greece's DESFA, Bulgaria's Bulgartransgaz, Hungary's FGSZ and Romania's SNTGN Transgaz agreed to begin talks on regulatory and online taxi Dion economic aspects of the corridor, DESFA said in a statement.
On Friday, countries will consider a revised proposal by the Czech Republic, which holds the rotating EU presidency, which would lower the limit to 264 euros/MWh and taxi Tailor Made Tour airport to piraeus price require prices to remain above that level for five trading days, instead of two weeks, to trigger the cap.
ATHENS, Dec 1 (Reuters) - Greece, Bulgaria, Romania and Hungary agreed on Thursday to upgrade the interconnection and transport capacity of their gas grids, part of their long-standing efforts to diversify gas sources and boost their role in Europe's energy supply chain.
"(It) is an important step towards the implementation of the Vertical Corridor, a project that will significantly contribute to the supply security of the wider region," Chief Executive of DESFA Maria Rita Galli said in the statement.
In 2016, the four countries agreed to develop the necessary infrastructure for the realisation of the so-called Vertical Gas Corridor, which will enable bidirectional gas flows from Greece to northern Europe, through Bulgaria, Romania and Hungary.
