Greece Hope to Play Greater Role in European Gas Market

Depa SA, Greece’s public gas company, plans to make the country a natural gas transmission corridor and import gateway into south-east Europe for liquefied natural gas, Deputy Chief Executive Officer Spiros Paleoyannis said.

“Our vision is to make our country a transmission corridor for natural gas from Russia, the Caspian Sea and the Middle East” as well as “a new gateway for LNG from various sources for south-east Europe and the Balkans,” commented Paleoyannis.

As part of these plans, “we hope to make Greece a new benchmark for the pricing of natural gas in the region, or a regional gas pricing hub,” he said. Three international pipelines being built to carry gas to Europe will cross Greek territory.

Depa intends to build an LNG regasification plant in northern Greece, either on land or at sea, which will be mainly used for exporting gas to other countries in south-east Europe, he said.

Source: Bloomberg