According to an article by Euronews A new LNG system opens in Alexandroupolis, Greece which aims to reduce southeastern Europe’s dependence on Russian gas.
The project consists of a floating storage tank, a regasification unit that converts liquified natural gas (LNG) back to gas, and a pipeline.
It also includes a system of submarine and land pipelines through which natural gas is imported into Greece before being transported to consumers at home, but also Bulgaria, Romania, North Macedonia, Serbia and further into Moldova and Ukraine in the east and Hungary and Slovakia in the west.
The European Commission approved an investment of over €157 million for the project’s first phase, expecting to benefit the local economy by generating €382 million in CO2 emissions and fuel-switch savings as it replaces coal and oil with gas.
The new pipeline is an important gateway for LNG to reach other parts of southeast Europe, an area which is heavily reliant on Russian gas.