Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. Greece, Bulgaria, Romania, Hungary agree to boost gas...

Greece, Bulgaria, Romania, Hungary agree to boost gas grid interconnections

January 5, 2023

  Greece, Bulgaria, Romania and Hungary agreed on last 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, Reuters reports. 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. After Russia cut gas supplies to Europe in the wake of the war in Ukraine, European countries have been looking for alternative gas suppliers and have been pursuing energy cooperation more actively.   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 economic aspects of the corridor, DESFA said in a statement. The agreement will last three years with the option to be extended by one more, it added.   "(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.   She added that it will further strengthen Greece and the wider region's role in energy. 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.   IGB will become more important once its maximum annual capacity of 3 billion cubic metres rises.   "In coordination with DESFA, we have the opportunity to 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.   Greece has started exporting gas to Bulgaria, which was cut off from Russian supplies earlier this year after refusing to pay in Russian roubles.   The latest development fits well with Greece's plans to become a major transit route for liquefied gas in Europe.   This year, Athens has more than halved its imports of Russian gas, instead ramping up deliveries of LNG, mainly from the United States and Egypt, to its sole LNG facility at Revithoussa near Athens.    

The text of this article has been partially taken from the publication:
ActMedia
Read in full - click here
Nine O’Clock daily newspaper: articles from tomorrow’s Printed Edition dated Monday OCTOBER 02, 2023

Nine O’Clock daily newspaper: articles from tomorrow’s Printed Edition dated Monday OCTOBER 02, 2023 PM Ciolacu puts to rest security fears over Russian hypothetical threat Senate’s Ciuca, to Romanians in Ireland: We expect you home, where things will change Participation of Minister of Foreign Affairs Luminița Odobescu at the Opening...

Exhibition ‘Brancusi: Romanian Sources and Universal Perspectives’ opens in Timisoara

Exhibition ‘Brancusi: Romanian Sources and Universal Perspectives’ opens in Timisoara The exhibition “Brancusi: Romanian Sources and Universal Perspectives” opened to the public on Saturday at the National Art Museum (MNArT) of Timisoara, this year’s European Capital of Culture, in the presence of several hundred Romanian and foreign tourists eager to...

Her Majesty Margareta, Custodian of the Romanian Crown, and HRH Prince Radu on a special visit The European Union Satellite Centre

Her Majesty Margareta, Custodian of the Romanian Crown, and HRH Prince Radu on a special visit The European Union Satellite Centre on 25 September 2023 The European Union Satellite Centre had the privilege of hosting Her Majesty Margareta, Custodian of the Romanian Crown, and HRH Prince Radu on a special...

Her Majesty Margareta, Custodian of the Romanian Crown, and HRH Prince Radu meet the Romanian community in Toledo, Spain

Her Majesty Margareta, Custodian of the Romanian Crown, and HRH Prince Radu meet the Romanian community in Toledo, Spain Her Majesty Margareta, Custodian of the Romanian Crown, and His Royal Highness Prince Consort Radu traveled on Thursday to Toledo, the capital of the province of the same name in the...

Mr. Cătălin Predoiu, Deputy Prime Minister, and Minister of Internal Affairs: Romania will help Italy, after the island of Lampedusa is overwhelmed by migrants

Mr. Cătălin Predoiu, Deputy Prime Minister, and Minister of Internal Affairs: Romania will help Italy, after the island of Lampedusa is overwhelmed by migrants Press release regarding the JAI Council – Internal Affairs section of 28.09.2024/ Statement of the Minister of Internal Affairs after the meeting Posted on: 2023-10-01 Source: https://www.mai.gov.ro...

Information regarding the implementation of the National Program for the Reduction of School Dropout: There are no problems regarding the supplementing of the sums necessary for schools to implement the activities undertaken through the projects of PNRAS

Information regarding the implementation of the National Program for the Reduction of School Dropout: There are no problems regarding the supplementing of the sums necessary for schools to implement the activities undertaken through the projects of PNRAS The date of publishing: Friday, September 29, 2023 Source: www.edu.ro With regard to...