{"id":2217,"date":"2026-04-23T15:15:00","date_gmt":"2026-04-23T12:15:00","guid":{"rendered":"https:\/\/en.tomanifesto.gr\/?p=2217"},"modified":"2026-04-23T15:15:00","modified_gmt":"2026-04-23T12:15:00","slug":"the-critical-importance-of-the-vertical-gas-corridor","status":"publish","type":"post","link":"https:\/\/en.tomanifesto.gr\/?p=2217","title":{"rendered":"The critical importance of the Vertical Gas Corridor"},"content":{"rendered":"

The importance of the Virtual Gas Corridor<\/strong> was the focus of a discussion at the 11th Delphi Economic Forum taking place in Delphi 22- 25 April<\/strong>.<\/p>\n

The panel moderated by Ms. Kait Bolongaro, Managing Editor for Europe of MLex, Spain<\/strong> with the participation of representatives of the market and institutions from Greece and abroad, focused on energy flows, with an emphasis on infrastructure, interconnectivity and energy security, in the light of the challenges shaped by the current unstable geopolitical environment.<\/p>\n

The need for an ad hoc support mechanism from the European Union<\/b> for the implementation of regional cooperation initiatives for energy security such as the Vertical Gas Corridor<\/b> was underlined by Teodora Georgieva, Deputy Minister of Energy of Bulgaria,<\/strong> noting that Bulgaria has already started implementing the Vertical Corridor with the aim of creating a truly competitive product.<\/p>\n

In this context, she referred to the initiatives already implemented and the discussions on Routes 1, 2 and 3, as well as the “one-stop shop” service of capacity from Greece to Ukraine, the approval of which is expected from the European Commission as it is an innovative solution necessary in crisis conditions. “We need to operate in a way that creates the right platform for competitive LNG import routes,” he noted, adding that Bulgaria has sent a letter to the European Union, which will be signed soon by the ministers of the Vertical Corridor, raising the issue of supporting the effort and creating a subsidy mechanism for gas bottlenecks. He stressed that the energy mix cannot be based solely on renewables and said that Bulgaria continues to invest in and upgrade nuclear power, he noted, while natural gas will remain important for a long time. He stressed, finally, that fuel choices should be determined by the market and not by institutional decisions.<\/p>\n

Romania consistently supports initiatives that strengthen regional energy security and, in full alignment with European legislation, is working closely with Greece and Bulgaria to ensure that the region’s voice is heard at the European level. This was noted by Cristian Silviu Bu\u0219oi, State Secretary of the Romanian Ministry of Energy<\/strong>.<\/p>\n

He said a central goal for Romania is to strengthen electricity interconnectivity so that the region can access generation from Northern and Western Europe. He also stressed that strengthening interconnections and alternative routes makes the region more competitive and resilient to global crises, and underlined that Europe remains the most ambitious continent in tackling climate change. However, he continued, the energy transition must now balance three pillars: decarbonisation, energy security and competitiveness, but the approach must become more realistic. He stressed that natural gas will continue to play a role, while nuclear energy is seen as critical for security and low carbon. Finally, he said that from 2027, 8 billion cubic metres (bcm) of gas will be added from Neptune Deep, boosting both domestic consumption and the regional market through the Black Sea.<\/p>\n

Greece is in a strong position on the European energy map, according to Georgios Alexopoulos, Deputy CEO of HELLENiQ ENERGY<\/strong>, thanks to its major refining hub with a total capacity of around 550,000 barrels per day. He said the two major industry groups HELLENiQ ENERGY and Motor Oil fully cover the domestic market and export about 60% of their production, enhancing regional energy sufficiency. Referring to security of supply in times of crisis, he said that diversification of energy sources and routes is a crucial factor. He noted that the disruption in the Strait of Hormuz, through which some 20% of global oil and product flows pass, has had a significant impact and shortages are already being experienced in some markets, which have so far been mitigated through buffer stocks, floating storage and cargoes in transit. However, he pointed out, available stocks are declining, limiting the window of opportunity before more severe market pressures emerge.<\/p>\n

At the European Union level, he noted that energy dependence, even with Norway covering about a third of imports, remains high, with about 57 percent of total energy imported, and in natural gas dependence reaches about 90 percent. In this environment, the importance of exploiting domestic energy resources, such as the hydrocarbon research projects in Greece, which can contribute to the gradual strengthening of European energy self-sufficiency, is highlighted. Finally, he referred to the growing role of LNG, noting that Greece already covers a significant part of its needs through imports from the United States. However, he stressed that the energy strategy requires long-term planning and policy stability, with a 15 to 20-year horizon.<\/p>\n

For his part, Mr. Konstantinos Sifneos, Vice President and CEO of Gastrade<\/strong>, focused on the crucial role that new FSRU infrastructure can play in enhancing energy security in Eastern and South-Eastern Europe, while also underlining the need for the EU to show more immediate reflexes and flexibility in order to support initiatives such as the Vertical Corridor. He stressed that energy security requires stable investments in infrastructure, secure sources of supply and reliable transport routes. In this context, he stressed that the European Commission must actively support this direction, not only in terms of strategic statements, but also with practical tools for financing, regulatory flexibility and accelerating projects. He called for the full exploitation of Greece as a key gateway to the wider region, through the existing regasification infrastructure at Revithoussa and Alexandroupoli, as well as the IGB interconnection, which is a critical supply axis to the Balkans and Central Europe.<\/p>\n

In this context, he also referred to the proposal to develop a new FSRU infrastructure in Thrace in order to increase the country’s export capacity to the Vertical Corridor, noting the need to develop the northwest axis, which will include Serbia, Hungary and Slovakia. These markets, he stressed, are expected to be particularly affected by the gradual decoupling from Russian gas and therefore require alternative and reliable sources of supply. In this context, he noted that it is necessary to create equivalent competitive transport and energy products in order for the Vertical Corridor to function not only as an energy security route, but also as a real commercial opportunity. She also underlined that the European Commission should show more flexibility in the regulatory framework and allow the creation of more competitive and functional trading instruments.<\/p>\n

Maria Sferruzza, CEO of DESFA<\/strong>, said that although significant progress has been made in strengthening energy infrastructure, neither Europe nor Greece are yet fully prepared to face any possible energy crisis. He noted that experience has shown that Europe reacts effectively to immediate pressures, but the development of new infrastructure and the restructuring of energy routes require time and cannot be implemented immediately. For this reason, he raised the need for a more holistic approach, aiming at enhancing the overall resilience of the system rather than dealing with individual crises in a piecemeal manner.<\/p>\n

At the same time, he referred to the fact that Europe is currently below average gas reserves, which creates uncertainty for the coming months, especially in conditions of high prices and geopolitical instability. He concluded by pointing out that the resilience of the European energy system will depend on better coordination between Member States and the continuous strengthening of infrastructure, with a view to a more flexible and secure framework in the face of future crises.<\/p>\n

The importance of the Vertical Corridor was highlighted by Vladimir Malinov, Executive Director of Bulgartransgaz EAD<\/strong>, underlining that Bulgaria remains fully committed to its implementation, with the aim of making it operational by the end of the year. He noted that projects are underway to strengthen and upgrade the existing infrastructure, with additional pipelines that will increase capacity and interconnectivity between Greece, Bulgaria and Romania. However, he pointed out that additional strategic decisions are needed at the European level and called for a decision by the end of the year on the development of a new FSRU in Greece in order to meet the growing demand in the region and enhance energy security, especially in view of the full decoupling from Russian gas.<\/p>\n

In this context, he described LNG – especially from the US – as a reliable source of energy, but stressed the need for longer-term commitments from suppliers and for deeper regional synergies. He said the region’s markets are small in scale and could benefit significantly from a common strategic approach, allowing for economies of scale and better supply conditions. <\/p>\n

.<\/p>\n","protected":false},"excerpt":{"rendered":"

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