A Greek-North Macedonian oil pipeline, out of use over the past decade, appears to be back on track for a reopening following such a step’s approval by the neighboring country’s regulatory authority.

The pipeline’s owner, Vardax, a subsidiary of Helleniq Energy, formerly named Hellenic Petroleum (ELPE), had submitted a request in November, 2022 for the pipeline to be put back into operation, but the pending issue had remained unresolved.

Helleniq Energy CEO Andreas Siamisiis revealed the news of the North Macedonian regulatory authority’s approval of his company’s request for the pipeline’s reopening in an interview with Greek daily Kathimerini.

The pipeline was developed in 2002 to link the Greek company’s Thessaloniki refineries with its OKTA refinery in North Macedonia.

In 2013, the Greek energy group decided to change the use of the pipeline for the transport of clean products. However, it has remained dormant until the present as a result of the delayed new license, despite the modification of infrastructure.

The pipeline is fully ready to operate, Siamisiis, the Helleniq Energy CEO, has stressed. A comprehensive inspection of the pipeline was recently completed, extending its operating ability to June, 2051.

Helleniq Energy intends to transport diesel fuel through the pipeline once it is reopened.

If reopened, the pipeline, whose current capacity measures 2.5 million tons, annually, promises to offer multiple benefits for both Greece and for the energy group.

Energy security and sufficiency in the wider Balkan region would be reinforced, while Greece’s role as an important regional energy hub would be enhanced, the Helleniq Energy CEO pointed out.