Natural gas export potential will be quadrupled, Sdoukou says

The country's natural gas export potential will be quadrupled by the end of the decade, with new infrastructure projects such as the Alexandroupolis floating liquefied natural gas (LNG) terminal, an increase in the capacity of the Trans-Adriatic Pipeline (TAP) and the new Greece-North Macedonia pipeline that is entering the construction phase, Deputy Minister of Environment and Energy Alexandra Sdoukou said on Wednesday, speaking at the 23rd LNG International Meeting held in Athens.

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As the deputy minister said, these projects will benefit the country, the wider region and consumers.

Sdoukou stressed the role of LNG in ensuring the energy supply after the war in Ukraine. She also referred to Greece's contribution to the supply of the region, where it has emerged as a key (and in some cases the only) supplier of natural gas for the countries of SE Europe. And she added that if the estimates for deposits in the Greek subsoil are confirmed, Greece may also become an exporter of natural gas in the region.

The next stage is the vertical natural gas corridor that will start from Greece and end in Moldova and Ukraine through which, as Sdoukou mentioned, all the countries in the region will be given the opportunity to benefit from the diversification of sources of supply with natural gas.

The managing director of DESFA Maria Rita Galli stated that in mid-2024 the binding market test for the creation of the vertical corridor will take place, with a commitment of capacity from the interested parties operating in the region. At the beginning of the year, the floating LNG station in Alexandroupolis is also expected to be put into commercial operation. She noted that Greece proved to be proactive in terms of the security of the natural gas supply and thus managed to face the energy crisis and also contribute to the supply of the region.

The Director of Strategy and Development of DEPA Commercial, George Polychroniou, stated that the global demand for LNG is growing rapidly while new LNG terminals are being built in Europe (more than 26 projects are underway in 10 European countries).