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Greece: 107 million euros of EU regional funds to optimize natural gas supply

By   /   12/08/2014  /   Comments Off on Greece: 107 million euros of EU regional funds to optimize natural gas supply

The European Commission has approved a financial contribution of EUR 107 million from the European Regional Development Fund (ERDF) to implement five major projects of a total value of EUR 551.6 million to optimize natural gas supply in Greece. The investments will improve Greece’s natural gas transportation and transmission systems, enhance security of energy supply in Greece and South Eastern Europe and save energy.

 

 

The projects will also help Greece’s economic recovery by serving more customers and boosting the competitiveness of local enterprises especially in the Greek regions of Attica, Peloponnesus, Continental Greece and Central Macedonia.

 

EU Commissioner for Regional Policy Johannes Hahn, who approved the five projects said, “These projects show how EU Regional Policy is focusing on future-oriented investments such as energy efficiency, sustainable economy and support for enterprises, especially SMEs. A modern and more efficient energy supply system will make a real and difference to citizens and businesses in Greece, helping local enterprises to develop and guarantee better and cheaper energy supply to households. All in all. it will help to boost growth and jobs and is of strategic importance since it ensures the security of energy supply in Greece and supports the completion of the energy network of the country. Moreover the projects will help to reduce the CO2 emissions, thus contributing to an environmentally friendly energy supply.

 

The two first investments are related to upgrades of the only Liquefied Natural Gas Terminal in Greece situated on the island of Revithoussa west from Athens that is used to stock natural gas transported over long distance by sea. The first investment “LNG Terminal Upgrade at Revithoussa” consists of the construction of a 13 MW Power Integration Station and of a new combined Heat and Power Cogeneration (CHP) plant in order to save energy considerably and to contributing to Greece’s energy autonomy, reduction of CO2 emissions and the improvement of supply flexibility and security of the National Natural Gas System.

 

The second investment “2nd upgrade of LNG Terminal at Revithoussa” will increase the terminal storage capacity with the construction of a third tank and improve the port facilities in order to be able to host larger ships transporting natural gas. This project will increase the security of supply of the Greek gas-market, improve the market competition, and can potentially lead to lower gas prices for the consumers in the long term as well as an increase in the stability of the system in terms of pressure.

 

The third investment “NG Compression Station in Nea Messimvria” in the Central Macedonia region consists of the installation of a natural gas compression station within the existing maintenance and operation station on Nea Messimvria. It is the first compression station within the National Natural Gas System (NNGS). Thanks to this Compression station more natural gas can be transmitted towards Central and Southern Greece and the hydraulic stability of the system has improved.

 

The first three investments come through four Regional Policy Operational Programmes: “Competitiveness and Entrepreneurship”, “Attica”, “Macedonia-Thrace” and Thessaly-Continental Greece-Epirus”. The European Union, through the ERDF, will finance EUR 2.9 million out of a total investment of EUR 71.8 million for the first project “LNG Terminal Upgrade at Revithoussa” which has been initiated since the 2000-2006 programming period and is already completed. The second project “2nd upgrade of LNG Terminal at Revithoussa” is expected to be finalised by the end of 2015 and will benefit from an EU financing of EUR 47.8 million whereas the total costs amount to EUR 195.6 million. The third project “NG Compression Station in Nea Messimvria” has been implemented in 2013. The European Union, through the ERDF, will finance EUR 17.4 million out of a total investment of EUR 71.7 million.

 

The fourth investment “High Pressure Natural Gas Pipeline to Aliveri” in the regions of Attica and Continental Greece consists of the expansion of the gas transmission system from Boeotia region to Euboea region through Attica and South Euboea Gulf regions. 72 km of pipeline has been built in order to provide population and businesses from Central and South Euboea with natural gas, thus helping to boost local enterprises and improving people’s quality of life. The project is completed and the pipeline has been operational since August 2012. The investment comes through the Regional Policy Operational Programmes: “Attica” and “Thessaly – Continental Greece – Epirus”. The European Union, through the ERDF, will finance EUR 9.9 million out of a total investment of EUR 84.5 million.

 

The fifth investment “NG High pressure Pipeline from Agioi Theodoroi to Megalopolis” will finance the construction of a 167 km long natural gas pipeline from Agioi Theodoroi to Megalopolis. This will enable the supply of natural gas to Public Power Corporation’s (PPC) electric energy production plant that is located in Megalopolis and to the broader urban and industrial areas like Corinth, Argos – Nafplio and Tripoli. This project contributes to boosting local enterprises and improving people’s quality of life in the Peloponnesus region. The investment comes through the Regional Policy Operational Programme “Competitiveness and Entrepreneurship” and is expected to be finalised in 2015. The European Union, through the ERDF, will finance EUR 29.9 million out of a total investment of EUR 128 million.

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