Greece signs agreement with Italy on natural gas storage

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[AP]

Energy Minister Kostas Skrekas said Friday he had signed a memorandum of understanding with his Italian counterpart to store natural gas in Italy.

The agreement covers 1.5 TWh (terrawatt hours) of natural gas that can be transported to Greece via reverse flows, the minister said, without giving further details.

Greece had held talks with Italy to see if it could store gas there to secure supplies in case Russian flows are disrupted.

Greece has no gas storage facilities and may need to store enough gas elsewhere to cover 15% of its annual consumption for the coming winter.

In a pre-recorded message broadcast on Friday at the 6th Southeast European Energy Forum 2022 in Thessaloniki, Skrekas said Greece has emerged as a regional hub for both natural gas and green energy.

The current and upcoming connections of Greece’s energy infrastructure were highlighted by some of the country’s energy chiefs and executives at the forum.

Hellenic Electricity Distribution Network Operator (DEDDIE) CEO Tassos Manos and Independent Power Transmission Operator (ADMIE) Vice President and General Director for Technology, Development and Systems Strategy Ioannis Margaris both spoke in this spirit at the forum “Power Interconnections: Enabling Green Energy Supply & Configuration” discussion forum. [Reuters, AMNA]

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