Bulgaria’s state-owned Bulgarian Energy Holdings, participating in a gas auction staged by Greek gas grid operator DESFA, has reserved gas infrastructure capacity at the national grid’s crossing with the new TAP line in Nea Mesimvria, west of Thessaloniki, establishing a base for entry into the Greek gas market.

Greek gas utility DEPA reserved the biggest share, 29,000 MWh per day, at the auction, while Bulgaria’s BEH secured a smaller share of 3,300 MWh per day.

The DESFA auction offered Nea Mesimvria infrastructure capacities for the first quarter of 2021.

Local market authorities regard the Bulgarian company’s move as a positive step that reignites interest in the Greek market.

It remains to be seen if BEH can attract customers in the Greek market and supply here, or whether its share of TAP line gas, even if modest, will end up being used for Bulgarian market needs.

Either way, the Bulgarian company’s initiative can be interpreted as a positive move by an international player seeing potential in the Greek market.

Significant steps towards maturity have been made in recent years, but the Greek gas market still has ground to cover before reaching levels of liquidity and transparency achieved by major markets and hubs in central and western Europe.