x

Economy

Greece Considers Natural Gas Storage in Bulgaria, Italy

ATHENS – The Greek Ministry of Environment & Energy is considering natural gas storage in Italy and in Bulgaria to ensure sufficient supplies for the 2022-2023 winter season, it was reported on Saturday.

The European Commission last week presented its proposals, according to which member states are obliged to ensure that their underground natural gas storage reserves have been paid for at least 80% of their capacity by November 1, 2022, a percentage which that will reach 90% in coming years, it was added.

EU member states without gas storage are required to secure agreements with countries that do have storage by November 1 this year, for quantities equivalent to 15% of annual gas consumption. In the case of Greece, the annual consumption of natural gas in 2020 was 5.8 billion cubic meters, which means that it is necessary to ensure a stored quantity of 0.9 billion cubic meters.

Bulgaria does have a natural gas storage facility, with which the Hellenic Gas Transmission System Operator (DESFA) is interconnected, with a second interconnection point to soon operate through the Greek-Bulgarian IGB pipeline. But Bulgaria’s underground warehouse has a relatively limited capacity of 0.6 billion cubic meters, it was noted.

The capacity of storage facilities in Italy is in the order of 20 billion cubic meters, with which Greece is interconnected via Albania with the TAP pipeline, in which case required quantities can be secured on the basis of exchange agreements.

RELATED

ATHENS – Eirini Baroulaki, the oldest living woman in Greece, passed away at the age of 119 on May 14.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

Tornado Kills Multiple People in Iowa as Powerful Storms Again Tear Through Midwest

GREENFIELD, Iowa (AP) — Multiple people were killed when a tornado tore through a small town in Iowa and left a wide swath of obliterated homes and crumpled cars, while the howling winds also twisted and toppled wind turbines.

CAPE CANAVERAL, Fla. (AP) — New research indicates the sun’s magnetic field originates much closer to the surface than previously thought, a finding that could help predict periods of extreme solar storms like the ones that slammed Earth earlier this month.

WASHINGTON (AP) — The Republican National Committee's Washington headquarters was briefly evacuated on Wednesday as police investigated two vials of blood that had been addressed to former President Donald Trump following the presumptive presidential nominee's takeover of the national party apparatus.

WASHINGTON (AP) — High mortgage rates and rising prices continued to put a damper on the spring homebuying season last month.

DUBAI, United Arab Emirates (AP) — Iran's supreme leader prayed Wednesday over the coffins of the country's late president, foreign minister and other officials who were killed in a helicopter crash earlier this week.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.