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GreeceSkrekas: Greece a hub for supplying natural gas, green energy

Skrekas: Greece a hub for supplying natural gas, green energy

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The government’s strategy to turn Greece into a natural gas and green energy export hub was presented by Environment and Energy Minister Kostas Skrekas on Wednesday while addressing an international conference on the Liquified Natural Gas (LNG) held in Athens.

Skrekas underlined that exports of natural gas have already reached 2.5 billion cubic metres, up from 0.7 cubic metres last year, while the possibilities have multiplied with the addition of a new floating storage tank in Revythoussa that increases the terminal’s capacity by 65 percent.

“The capacity of Greece’s LNG terminals can reach 20 billion cubic metres every year for the next two years” the minister said, noting that the interconnection with Bulgaria may extend the LNG supply via Greece to Moldova and Ukraine.

“The aim is for the dependence on one single supplier to decrease,” Skrekas said, noting the need for a joint EU supply platform that will raise the bloc’s overall negotiating power, as well as long term contracts for the stabilisation of the market.

In statements on the sidelines of the conference, Skrekas re-introduced a proposal for the establishment of a central mechanism for the economic support of the member-states and of citizens and enterprises in the EU. “European industry loses competitiveness, many companies reduce their production or shut down and we have many losses of jobs,” Skrekas said. He clarified that the proposal for cap on natural gas rates to ensure lower prices in natural gas and electricity remains on the table. “We will not rest until we succeed in getting it,” Skrekas concluded.

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