DEPA Commerce and Bulgargaz agreed on common gas markets

“We are tripling the country’s LNG storage capacity, doubling the electricity and gas transmission interconnections and maximizing the penetration of RES.” This was stated by the Minister of Environment & Energy, Costas Skrekas, in his statements in Sofia, Bulgaria, at a wide regional ministerial meeting with representatives of eight governments and the European Commission, on energy security, diversification of sources and routes of energy supply and green .

According to a ministry statement, Mr. Skrekas referred to the importance of the EU energy supply platform and the establishment of the first regional task force, which will strengthen the EU’s energy autonomy and efforts to break free from Russian gas.

The minister also presented the government’s comprehensive plan to ensure adequate supply in the event of a power outage from Russia. The plan includes the addition of a new floating tank at the LNG station in Revythousa, the completion of the liquefied natural gas gasification unit in Alexandroupolis by the end of 2023 and the start of commercial operation of the Greek-Bulgarian IGB pipeline within the summer.

DEPA Commerce and Bulgargaz agreed on common gas markets

In addition, as announced by the Minister, DEPA Commerce and Bulgargaz agreed to make joint purchases of natural gas, strengthening their bargaining power and making the best use of natural gas infrastructure.

Mr. Skrekas referred to the establishment of a Greece-Bulgaria task force to monitor and coordinate actions in the energy sector. He also announced the acceleration of the construction of the second electricity interconnection with Bulgaria.

The meeting stressed the importance of electricity interconnections for enhancing energy security in the wider region of Southeastern Europe and the crucial contribution of new RES projects in accelerating the green transition.

Mr. Skrekas presented the new gas trading platform of the Hellenic Energy Exchange, noting that it is an important step for the unification of energy markets, enhancing the transparency of transactions and offsetting risks from strong price volatility.

The Minister was accompanied by the Secretary General of Energy and Mineral Raw Materials, Alexandra Sdoukou, the CEO of DEPA Commerce, Costas Xifaras, the CEO of DESFA, Maria Rita Galli, the CEO of the Hellenic Stock Exchange, of IPTO, Giannis Kampouris.

The meeting was attended by Bulgarian Prime Minister Kiril Petkov, Deputy Prime Minister and Minister of Finance Asen Vasilev, Deputy Prime Minister and Minister of Energy of Serbia Zorana Mikhailovich, Director General of the European Energy Agency the Minister of Energy of Bulgaria, Alexander Nikolov, the Minister of Energy of Romania, Virgil Daniel Popescu, the Minister of Energy of Azerbaijan, Parviz Sahpazov, the Minister of Energy of Ukraine, Herman Halodenko, Bektesi and Turkish Deputy Energy Minister Alparsan Bayraktar.

“Greece emerges as a pillar of energy security for the whole of Southeast Europe”

The minister said: “Greece is emerging as a pillar of energy security for the whole of Southeastern Europe. With a comprehensive plan, we triple the country’s LNG storage capacity, double electricity and gas interconnections and maximize penetration and penetration. We are deepening regional cooperation by implementing strategic infrastructure that will offer alternative sources of energy supply, at a critical juncture.The FSRU floating station in Alexandroupolis will significantly reduce the dependence of the wider countries on Russian natural gas, releasing a significant amount of natural gas. Greece to the Balkans We are also actively promoting electricity interconnections, strengthening national energy security and shielding our country from imported energy crises.It is imperative to further strengthen our cooperation with the countries of the wider region of in order to achieve the goal of our energy autonomy and competitiveness “.