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In the wake of the war in Ukraine, Greece has this year more than halved its imports of Russian gas, instead ramping up deliveries of liquefied natural gas (LNG), VOLOS ACHILLION TRANSFER mainly from the United States and Egypt, to its sole LNG facility at Revithoussa near Athens.
The terminal, which the government has called "indispensible", has also helped export gas to neigbouring nations including Bulgaria, which was cut off from Russian supplies earlier this year after refusing to pay in roubles.
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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, also signed the agreement on Thursday.
"(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.
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"These create the conditions for Greece to increase nearly four times from now to 2025 its export capacity towards its neighbouring countries," Galli said during the World LNG Summit in Athens, adding that Europe needs "flexible solutions and a flexible LNG market".
ATHENS, ALONISSOS ATHENS TAXI Nov 30 (Reuters) - Greece is becoming a European gas corridor and can nearly quadruple its gas export capacity to neighbouring countries in the coming years thanks to new infrastructure under development, Maria Rita Galli, the chief executive of the country's gas grid operator DESFA said on Wednesday.
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Under the memorandum of understanding signed on Thursday on the sidelines of a liquefied natural gas (LNG) conference in Athens, Greece's DESFA, VOLOS SERRES TAXI Bulgaria's Bulgartransgaz, Hungary's FGSZ and Romania's SNTGN Transgaz agreed to begin talks on regulatory and economic aspects of the corridor, DESFA said in a statement.
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 VOLOS ACHILLION TRANSFER boost their role in Europe's energy supply chain.
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.
"In coordination with DESFA, we have the opportunity to increase this capacity (to) up to 5 billion cubic meters per year," two senior ALONISSOS ATHENS TAXI executives at ICGB said, adding this should happen along with the commissioning of the LNG terminal off Alexandroupolis due in 2024.
