$ USD
General News
Meropi Kyriacou Honored as TNH Educator of the Year
NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.
The Alexandroupoli Independent Natural Gas System (INGS) project was approved for European Union funding that will bring 202,265,539 euros ($225,192,338,) said Alternate Finance Minister Nikos Papathanasis.
The European Commission evaluated data and found the project eligible for the crucial funding that’s aimed both as a domestic source for households and businesses as well regionally.
The government said it wants to make the port a center for transmission of energy to the European Union as it was due to begin operations on Oct. 1 and will create a so-called Vertical Corridor to improve regional energy security, said To Vima.
https://www.tovima.com/politics/european-commission/
Greece and the EU want to further lessen reliance on Russian supplies during that country’s ongoing invasion of Ukraine that has also spiked the energy market and drove up electricity costs so much the Greek state had to provide subsidies.
Gas will be sent to Bulgaria, Romania, Hungary, Slovakia, Moldova, and Ukraine, through European natural gas and LNG transmission systems using a Floating Storage Regasification (FSRU) unit which connects to the Trans Adriatic Pipeline.
That line takes gas from Azerbaijan through Turkey across northern Greece and continues to Italy using an undersea link from Albania. Most of the liquefied natural gas (LNG) being imported isn’t for use in Greece.
The report said it’s estimated that 60-70 percent of the gas produced at the regasification unit will be exported through the new Interconnector Greece-Bulgaria (IGB) pipeline in reverse flow to Bulgaria, if not sent further.
American LNG developer Venture Global signed a five-year deal with Gastrade to regasify up to 1 million metric tons of LNG in Greece for a five-year period beginning in 2025 from two of its Louisiana export facilities, the company said.
The deal will allow Venture Global LNG access to regasification capacity at the Alexandroupolis LNG receiving terminal on the Thracian Sea, increasing its ability to reach Central and Eastern European markets, the company said.
The Virginia headquartered company will gain access to 25 percent of the terminal’s total capacity or approximately 12 cargoes annually, said the company that’s going to become the second-largest American exporter of the superchilled gas.
“This move further integrates our business by growing our assets across the LNG supply chain including LNG production, shipping and regasification, said Venture Global CEO Mike Sabel of the move.
