ECONOMY

European Commission approves funding for Greek gas infrastructure

The European Commission has authorized 134 million euros of aid for Greek gas infrastructure projects it emerged Wednesday.

The Commission found that the aid to four pojects aimed at improving and expanding the Greel gas network complied with EU state aid rules. The projcts aim at increasing the gas transmission capacity and security of gas supply within the country while indirectly reducing CO2 emissions.

“The aid will help Greece to expand and strengthen its gas network. This will improve competition between gas suppliers and will benefit consumers, also by diversifying energy sources,” Commission Vice-President in charge of competition policy Joaquin Almunia said on Wednesday.

The recipient of the 134 million aid package is DESFA, the country’s sole gas transmission operator. The company is obliged, however, to ensure that third party access to its networks is available for all gas suppliers.