BAKU, Azerbaijan, November 21. Greece aspires
to place itself not solely as a gateway but in addition as a pivotal
transit hub for vitality, facilitating the movement from east to west and
south to north, Trend studies by way of Greek Foreign Ministry.
“A central focus lies on the Southern Gas Corridor, a
cornerstone of the EU’s vitality technique, enjoying a vital position in
fortifying the safety and adaptableness of the area’s vitality
assets. The completion of the Trans Adriatic Pipeline (TAP), the
last section of the Southern Gas Corridor, considerably bolsters
Greece’s vitality safety by offering an annual provide of 1 billion
cubic meters,” stated the ministry.
The ministry stated that expressing curiosity in becoming a member of TAP, North
Macedonia, together with exploring different vitality avenues by way of
Greece, solidifies this collaboration.
“A Memorandum of Understanding has been executed between the
respective authorities of each nations to assemble an
interconnecting pure gasoline pipeline. Greece is actively
championing the conclusion of the Vertical Natural Gas Corridor,
designed to move pure gasoline from numerous sources. This
consists of the Revythoussa LNG terminal, the deliberate FSRU
Alexandroupolis, the TAP pipeline, and a route by way of Bulgaria to
serve the nations of Central and Eastern Europe,” stated the
ministry.
The ministry the Interconnector Greece-Bulgaria (IGB) assumes a
pivotal position because the inaugural hyperlink within the vitality chain of the
Vertical Natural Gas Corridor, encompassing Greece, Bulgaria,
Romania, Hungary, Ukraine, and Moldova.
“Engineered with the aptitude for reverse movement, the pipeline
establishes connectivity between the pure gasoline networks of Greece
and Bulgaria, facilitating the transport of pure gasoline from
varied sources.”
The Southern Gas Corridor commenced the transportation of
Azerbaijani gasoline to Europe on December 31, 2020, facilitating the
motion of gasoline from the Caspian Sea area to European international locations
by way of Georgia and Turkey. The complete value of the challenge amounted
to $33 billion, notably lower than the initially forecasted $45
billion. Capital expenditures for the Southern Gas Corridor challenge
are anticipated to be totally reimbursed inside 8–10 years.
In July 2022, Azerbaijan and the EU reached an settlement to
improve the amount of gasoline provides by way of the Southern Gas Corridor
from the prevailing 10 billion cubic meters to twenty billion cubic
meters by 2027.
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