Greece: Energy Matters

Greece-Bulgaria-Romania agree on gas pipeline project

(GREEK NEWS AGENDA)  An agreement has been signed by the Greek gas company DEPA and Italian Edison with Bulgarian Energy Holding for the construction of a pipeline that would allow Bulgaria to import 1 billion cubic meters of natural gas from the Caspian Sea region, through the ITGI (Interconnector Turkey-Greece-Italy) pipeline. The 160-km long pipeline, called Interconnector Greece-Bulgaria (IGB), will extend from Komotini, northern Greece to Stara Zagora, Bulgaria. Its construction is estimated to cost €120 million with €45 million provided by the EU.  Greece and Romania agreed yesterday during a meeting in Bucharest, between Romanian Economy Minister Adriean Videanu and Greek Development Minister Kostis Hatzidakis, to promote and coordinate gas connections between Hungary, Romania, Bulgaria and Greece.  “We want to treat the Greek-Bulgarian, Bulgarian-Romanian and Romanian-Hungarian pipelines as a single whole, as a single pipeline. Especially since all three separate pipelines are financed by the European Union,” Hatzidakis said adding that this project would enhance cooperation between the four countries and strengthen their geostrategic position.  Meanwhile, DESFA, Greece’s Natural Gas National System Manager, and Bulgarian Energy Holding (BEH) signed yesterday a memorandum of understanding aimed at allowing the transportation of natural gas from Greece to Bulgaria from the Revithousa LNG terminal. Kathimerini daily: Greece – Bulgaria pipeline to raise security, lower gas prices

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Greece’s Energy Deal with Gaz de France

(GREEK NEWS AGENDA)   A memorandum of understanding between France’s Gaz de France-Suez and the Greek Public Gas Corporation (DEPA) was signed on Friday in Paris. The deal will insure Greece’s procurement with liquid natural gas (LNG). Greece’s main supplier in liquid natural gas is Algeria, however, in view of the drastic surge in domestic natural gas demand estimated for the next three years rising to 1 billion cubic meters per year, DEPA seeks to establish diversified partnerships. The contract with the Algerian Sonatrach provides for a total supply from 0.51 to 0.68 billion cubic meters annually. Algerian LNG began flowing in Greece in February 2000. The synergy with Gaz de France will provide business opportunities for both corporations in the markets of Southeast Europe and East Mediterranean, as well as in the sector of natural gas deposits’ exploitation. Ministry of Development: Energy & Natural Resources; Ministry of Foreign Affairs: Energy Affairs; European Commission: Energy-Gas

Greece: Energy Relations

(GREEK NEWS AGENDA)   Greece and Azerbaijan will sign a four-party agreement on natural supplies with Italy and Turkey aimed at ensuring the successful completion of a Turkish-Greek-Italian natural gas pipeline project, as was announced on Tuesday.
Development Minister Christos Folias, who held a two-day visit to Azerbaijan, said that Greece would undertake a coordinating role towards this end by hosting a meeting in Athens in order to finalise the details of the agreement. The Greek minister and Ajeri industry and energy minister Natiq Aliyev signed a joint declaration, expanding a bilateral agreement signed in August 2007, which confirmed the energy partnership between the two countries. Greece and Azerbaijan agreed to intensify efforts aimed at creating a safe energy corridor for the supply of natural gas. Ministry of Foreign Affairs: Bilateral relations Greece – Azerbaijan

Energy Pact Greece – Romania

(GREEK NEWS AGENDA) Forging closer energy ties, Greece and Romania signed a bilateral energy deal yesterday within the framework of Prime Minister Kostas Karamanlis’ official state visit to Bucharest. The deal will enhance bilateral cooperation in the oil, natural gas and electricity sectors, said the premier, looking forward to Romania’s major electricity exporting capacities. Greece’s economic presence in Romania is highly active and translates into a trade volume of over €1 billion per year. More than 800 Greek companies are established in Romania having invested around €3 billion. Ministry of Foreign Affairs: Bilateral Relations – Romania