
[ad_1]
ATHENS: Greece is becoming Europe’s gas corridor and can almost quadruple its gas export capacity to neighboring countries in the coming years thanks to new infrastructure being developed, Maria Rita Galli, CEO of the country’s gas network operator DESFA, said on Wednesday.
After the war in Ukraine, Greece more than halved its imports of Russian gas this year, instead increasing shipments of liquefied natural gas (LNG), mostly from the United States and Egypt, to its sole LPG plant at Revitousa near Athens.
The terminal, which the government has called “indispensable”, has also helped gas exports to neighboring countries, including Bulgaria, which was cut off from Russian supplies earlier this year after it refused to pay in rubles.
To further reduce its reliance on Russian gas, Greece hopes to build at least two more floating storage and regasification units (FSRUs) that could be operational by 2024. Earlier this year, it also launched a new gas pipeline to Bulgaria.
“This creates the conditions for Greece to almost quadruple between now and 2025 its export capacity to neighboring countries,” Gali said during the World LNG Summit in Athens, adding that Europe needs “flexible solutions and a flexible LNG market.”
Security of supply is the biggest challenge facing Europe, she said, along with decarbonisation.
Speaking before Gali, Prime Minister Kyriakos Mitsotakis said Greece could have up to four new LNG terminals in operation in the coming years.
He also said that Europe needs to find a new energy “balance” after gas price spikes earlier this year and that Russian gas cannot be eliminated without investing in new gas production.
The conservative prime minister – who was elected in 2019 on a promise to wean Greece off coal before it makes a U-turn due to the energy crisis – has also called for innovative solutions to reduce carbon emissions.
“We have to be realistic that gas will be with us for a while,” he said, adding that Europe still hasn’t found a way to continue investing in gas supplies in a zero-emissions world.
Storing hydrogen could be part of the solution, he said. “What’s missing is a commercial model that brings all these elements together.”
[ad_2]
Source link