Bolstering the country’s energy security and competitiveness, combined with environmental protection and a reduction of energy costs for enterprises and households, remains the objective at DESFA, Greece’s natural gas grid operator, its CEO, Konstantinos Xifaras, told an Economist energy conference in Athens today.

Xifaras decribed the diversification of energy sources for Greece as a necessity, adding that DESFA’s investments stand as a catalyst for wider regional cooperation.

He paid particular attention to the upgrading of LNG terminal facilities in Revythoussa, an islet in the Saronic Gulf, close to Athens, especially the addition of a third storage tank. The facility’s upgrade would contribute to Balkan energy security, he noted.

“Our objective is to contribute to energy security in the Balkans and boost bilateral trade,” Xifaras noted.

Xifaras noted the construction of a third tank on Revythoussa would increase the facility’s storage capacity by 73 percent, or about 225,000 cubic meters, while the gasification ability would rise to 1,400 cubic meters per hour, from 1,000 cubic meters at present.