EU Approves Support For Greece’s LNG Terminal Construction

Must read

The EU Commission announced that the financial support program prepared by Greece for the completion of the LNG terminal was accepted. The European Union (EU) approved Greece’s financial support of 106 million euros for the liquefied natural gas (LNG) terminal built in Alexandroupoli.

In the statement, it was stated that the 106 million euro resource prepared for the completion of the LNG terminal in Alexandroupoli by the end of 2023 was found to be in compliance with the EU public support rules, and that the aid in question would be in the form of a direct grant.

In the statement, it was noted that the support was deemed necessary and appropriate for the project to continue as planned, and that the terminal would contribute to the strategic goals of diversifying energy sources and ending dependence on Russian fossil fuels. The authority to determine how EU member states will provide public support falls within the jurisdiction of the EU Commission.

Member countries can use public contributions only in cases that do not harm competition and are in the public interest. Greece launched the floating LNG storage and gasification unit project in Dedeağaç in May last year. The project, which is expected to supply approximately 5.5 billion cubic meters of natural gas to the country’s distribution system annually, is planned to be completed by the end of this year.

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest article