[Greek Ministry of Environment and Energy]
Greece’s strategy for utilizing existing natural gas infrastructure in the Southeastern Europe region in reverse flow is on track for implementation. That is, natural gas will flow from south to north, in order to enable diversification of gas sources in the countries of the region and not from north to south, as was initially planned many decades ago for the transport of Russian gas.
Through the so-called “Vertical Gas Corridor,” natural gas from the Greek terminals in Revithoussa and Alexandroupoli will enter Bulgaria and from there continue to Romania, to reach Hungary and Slovakia to the west, and Moldova and Ukraine to the east.
Upon completion of the project, an estimated 20-25 billion cubic meters of gas will be transported through this axis annually from the south to the north, which will make Greece a leading player in the region’s energy independence from Russia, while upgrading its geopolitical role vis-a-vis Turkey.
The first substantial step in implementing the Vertical Gas Corridor strategy was taken on Thursday in Kresna, Bulgaria, with the formal inauguration of the construction of a major branch of the Bulgarian gas network.
This key project is expected to be completed within the first quarter of 2026 and is linked to the expansion of capacity from Greece to Bulgaria (with the Sidirokastro interconnection point) and from Bulgaria to Romania (with the Kresna interconnection point) as a key part of the Vertical Gas Corridor, as well as to the implementation of the objectives for the diversification and improvement of security of supply. Its operation will provide the possibility of transporting increasing quantities of natural gas from the south to the north.
A second important development in the direction of the implementation of this geostrategic project is the agreement of the nine operators promoting the project for uniform transit fees. Romania and Moldova were requesting transit fees that made the project unviable. Yesterday, the operators of Ukraine, Moldova, Romania, Bulgaria and Greece held the first auction to reserve 31 gigawatt hours/day of capacity with delivery from Greece to Ukraine in June, with a single transit price.