![Northern Greece becomes an energy hub with 8 key projects](https://www.ot.gr/wp-content/uploads/2022/02/0_KK8hcen6aGR356_9.jpg)
Northern Greece is evolving into an energy hub in the Balkans as well as in a large natural gas market. Eight major investment projects from Thrace to Western Macedonia and from Thrace and Central Macedonia to Bulgaria and Northern Macedonia, totaling 2 billion euros, will be unfolded over the next five years. With these projects, Greece diversifies its energy sources to meet both its own needs and those of its neighboring countries, providing security of supply and greater independence.
Of the eight investment projects, four concern infrastructure and gas pipelines that will serve the demand of the Balkan countries. The growth rates of neighboring markets and their efforts to break away from monopoly energy sources, as well as to move to a climate-neutral era, create an additional demand for natural gas on an annual basis of 13-14 billion cubic meters (m³). These estimates are made by gas market agents, which lead to billions of euros in revenue opportunities. The other four projects concern three power plants and a new pipeline within the Greece.
The projects in detail:
The Alexandroupolis FSRU:
Recently, the shareholders of Gastrade (Kopelouzos Group, National Natural Gas System, Public Gas Corporation, Bulgartransgaz and Gaslog) took the investment decision for the development of the Independent Natural Gas System with the construction of the LNG Floating Storage and Regasification Unit (FSRU), offshore Alexandroupolis. It is considered a project of strategic importance, its total amount is estimated at 380 million euros, of which 166.7 million euros come from the NSRF. The FSRU, with a capacity of 153,500 LNG m³, will be connected to the National Natural Gas Transmission System of Greece with a 28 km long pipeline, through which the gasified LNG will be promoted to the markets of Greece, Bulgaria and the wider region, from Romania, Serbia and Northern Macedonia to Moldova and Ukraine. The terminal is expected to operate by the end of 2023, with the contracted gasification capacity already reaching up to 50% of the technical capacity of 5.5 billion m³ per year.
IGB pipeline:
This is the natural gas pipeline that connects Greece and Bulgaria, starts from Komotini and ends in Stara Zagora. The 182 km long pipeline will be ready in the first half of 2022. It is managed by ICGB AD, a joint venture of Bulgarian Energy Holding and IGI Poseidon (Public Gas Corporation and Edison). Quantities of gas will be transported through the IGB from the Alexandroupolis FSRU to the Balkan countries, but also from the existing TAP pipeline. Its annual capacity is at 3 billion m³. The cost of the IGB amounts to 240 million euros.
Pipeline Greece – North Macedonia:
Within the month, according to information, there will be developments for the launch of the gas transmission pipeline that has been signed between the managers DESFA and NER JSC SKOPJE. The investment is estimated at 110 million euros and its annual capacity is at 1.5 billion m³.
YAFA Kavala:
The South Kavala Underground Gas Storage is, practically, an exhausted natural gas field. The infrastructure is in the HRDH portfolio and is to be granted, specifically in the last stage of the relevant tender. Claimants of the project are the consortium National Natural Gas System – GEK TERNA and Energean. With an estimated investment of 300-400 million euros, it can store half a billion cubic meters of natural gas. The storage space will not only serve the domestic energy needs but also the wider area. It is estimated that the benefit from its operation at current gas prices will amount to 400 million euros per year.
Pipeline of Western Macedonia:
The pipeline that will start from Trikala of Imathia and will end in Ptolemaida, is also in the plans for the implementation of the National Natural Gas System. The 122 km long pipeline will serve the energy demand of Western Macedonia after the de-lignification.
Power Plants:
A new market will be created by all three new power plants in the region of Macedonia and Thrace. These are investments close to 1 billion euros and concern gas stations that will be built in Komotini by GEK TERNA – Motor Oil and in Alexandroupolis by the Kopelouzos group. In addition, PPC, as of 2025, will convert the integrated lignite unit of Ptolemaida 5 into a power plant with natural gas.
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