(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 21. Greece aspires
to position itself not only as a gateway but also as a pivotal
transit hub for energy, facilitating the flow from east to west and
south to north, Trend reports via Greek Foreign Ministry.
“A central focus lies on the Southern Gas Corridor, a
cornerstone of the EU's energy strategy, playing a crucial role in
fortifying the security and adaptability of the region's energy
resources. The completion of the Trans Adriatic Pipeline (TAP), the
final segment of the Southern Gas Corridor, significantly bolsters
Greece's energy security by providing an annual supply of 1 billion
cubic meters,” said the ministry.
The ministry said that expressing interest in joining TAP, North
Macedonia, along with exploring other energy avenues through
Greece, solidifies this collaboration.
“A Memorandum of Understanding has been executed between the
respective authorities of both nations to construct an
interconnecting natural gas pipeline. Greece is actively
championing the realization of the Vertical Natural Gas Corridor,
designed to transport natural gas from diverse sources. This
includes the Revythoussa LNG terminal, the planned FSRU
Alexandroupolis, the TAP pipeline, and a route through Bulgaria to
serve the nations of Central and Eastern Europe,” said the
The ministry the Interconnector Greece-Bulgaria (IGB) assumes a
pivotal role as the inaugural link in the energy chain of the
Vertical Natural Gas Corridor, encompassing Greece, Bulgaria,
Romania, Hungary, Ukraine, and Moldova.
“Engineered with the capability for reverse flow, the pipeline
establishes connectivity between the natural gas networks of Greece
and Bulgaria, facilitating the transport of natural gas from
The Southern Gas Corridor commenced the transportation of
Azerbaijani gas to Europe on December 31, 2020, facilitating the
movement of gas from the Caspian Sea region to European countries
through Georgia and Turkey. The total cost of the project amounted
to $33 billion, notably less than the initially forecasted $45
billion. Capital expenditures for the Southern Gas Corridor project
are expected to be fully reimbursed within 8–10 years.
In July 2022, Azerbaijan and the EU reached an agreement to
increase the volume of gas supplies via the Southern Gas Corridor
from the existing 10 billion cubic meters to 20 billion cubic
meters by 2027.
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