The project, with a total cost of €134 million, enhances Greece’s capacity to export natural gas to neighboring countries (Bulgaria, Romania, Moldova, and Ukraine), thereby strengthening the prospects for developing the so-called “Vertical Corridor” — a regional natural gas supply route through Greece.
This development comes just days after the European Union’s recent decisions to gradually reduce its dependence on Russian natural gas — a move that creates additional supply needs for EU member states in the region. It also coincides with preparations for the upcoming meeting of the Partnership for Transatlantic Energy and Climate Cooperation (P-TEC) in Athens (this Thursday and Friday), which will bring together government officials from Europe and the United States.
A key topic of discussion at the meeting will be investment in the infrastructure required to advance energy diversification, reduce reliance on Russian gas, and increase the region’s supply of liquefied natural gas (LNG) through both existing and new facilities.
