ECONOMY

Depository for LNG in NE Greece

A new natural gas depository near Kavala, northeastern Greece, will host strategic reserves of the liquefied commodity (LNG) for Greece as well as Bulgaria. Plans by the Public Gas Corporation (DEPA) to build a new station for LNG has also drawn the interest of Bulgaria, following the problems this past winter during a crisis between Russia and Ukraine over the supply of natural gas. At that time, an existing station on the Greek island of Revythousa was able to supply both the Greek and the Bulgarian markets, highlighting the strategic importance of such depositories. This new unit comprises part of the enhanced energy agreement signed last Friday in Sofia between Greece and Bulgaria, along with the new gas pipeline linking Komotini in northern Greece with Haskovo in southern Bulgaria, that will provide an alternative route for gas to Bulgaria, linked to the Turkey-Greece-Italy gas pipeline. Cooperation is also likely to extend to the sector of compressed natural gas.