Saturday , June 15 2024

Visit of the Minister of Energy of the Republic of Moldova

 

Greece and Moldova undertake joint ventures in energy

 

Photos: Greek Minister of the Environment and Energy Kostas Skrekas pictured in Athens with the Minister of Energy of Moldova, Victor Parlicov; the two delegations in conference.

 

The cooperation of Moldova and Greece in the natural gas sphere should permit to better use the underground gas storages (UGSs) in Ukraine so to improve the security of Central Europe’s gas supply in winter, Moldovan Energy Minister Victor Parlicov stated in Athens on April 7th following talks with his Greek counterpart Kostas Skrekas.

Commenting on the framework contract signed between the Moldovan State Energy Company Energocom and the Greek State Gas Operator DEPA, he wrote that, “Now Moldova will be able to purchase gas, taking advantage of favourable market conditions.”

“Greece is southern Europe’s main gateway for liquefied natural gas (LNG), more than half of which comes from the US. Energocom is the first and so far the only company in the world that has practical experience in using the ‘vertical corridor’ Greece-Bulgaria-Romania-Moldova-Ukraine,” Minister Parlicov said.

According to him, Energocom’s experience last season with the use of the Greece-Bulgaria interconnector showed the feasibility of using the Trans-Balkan gas pipeline in a reverse mode.

“The European Federation of Energy Traders contract is a framework contract that precedes any sale and purchase agreement. The conclusion of such a contract is mandatory for companies operating in the European Union,” Energocom noted.

“Greece today is a strategic centre in terms of available energy sources and DEPA is going to help Energocom with experience in the gas industry,” said Energocom’s Acting Director Victor Binzari, who signed the contract. The purpose of the purchase in Greece is to see how the logistics chain works: from booking the capacities to the work of the distribution system operators. “It has one liquefied natural gas terminal and the second one will be ready by the end of the year. This terminal receives gas from several geographical locations, from the East, the United States and Africa, and the prices are favourable,” he said.

The prospects of strengthening economic cooperation between Greece and Moldova, with an emphasis on energy and renewable sources, were at the centre of a meeting between Deputy Minister of Foreign Affairs for Economic Diplomacy and Openness, Kostas Fragogiannis, and visiting Minister Parlicov (see photo).

The two officials also focused on the prospects of undertaking joint ventures in the field of energy, with the aim of energy sufficiency and autonomy.

Deputy Minister Fragogiannis arrived in Moldova on May 12th, at the head of a delegation that will participate in the proceedings of the Greece-Moldova Joint Interministerial Committee for the promotion of economic and technological cooperation between the two countries.

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