The European Commission’s Director-General for Energy Ditte Juul-Joergensen will be discussing a range of issues with the energy ministry’s leadership at a meeting in Athens today, including Greece’s role in the Balkans, western Balkan interconnection projects, natural gas reserves ahead of next winter, as well as Greece’s list of projects related to REPower EU, Europe’s plan for an end to the continent’s reliance on Russian energy sources.
Athens’ plan for wholesale electricity market intervention through a mechanism designed to subdue price levels is also expected to be discussed. It still needs to be approved by the European Commission, according to government sources.
The energy ministry is confident this mechanism will be approved by Brussels following a related agreement reached by its leadership during a visit to Brussels in late May. Market officials have remained uncertain.
Greece is expected to seek funding support estimated between 7 and 8 billion euros through the REPower EU initiative for a total of 14 projects supporting energy efficiency and security.
These projects include an upgrade of the gas grid; installation of a new floating storage unit at the islet Revythoussa, just off Athens; the Dioryga Gas FSRU in Corinth, west of Athens; an FSRU at Alexandroupoli, in Greece’s northeast; the Blue Med hydrogen project; the prospective underground natural gas storage facility (UGS) at the almost depleted natural gas field of “South Kavala” in the Aegean Sea’s north; IGB and TAP capacity boosts; as well as Greek-Egyptian and Greek-Bulgarian electricity grid interconnections.