BAKU, Azerbaijan, September 6. Nine European gas transmission system operators (TSOs) have urged the EU to assist and finance pipeline developments to avoid tariffs and boost competitiveness, Trend reports via Hungarian media.
"The meeting of companies participating in the future Vertical Corridor gas route took place on September 5 in Thessaloniki. The parties agreed to continue urging the EU to support and finance pipeline projects to avoid tariff challenges in the EU," the media said.
The EU's RePower 'green' strategy prohibits its financial structures from funding fossil fuel projects despite recognition of gas as a 'transitional' fuel toward a green economy.
During the working meeting in Thessaloniki, participants emphasized the necessity of implementing this gas pipeline route, starting in Greece.
"This initiative is vital for the markets of Central and Eastern Europe to gain access to more alternative gas sources, thereby increasing supply security, competition, and liquidity in Europe’s gas markets, where bottlenecks persist due to technical and commercial issues," the working group’s final statement said.
These nine European gas infrastructure operators have agreed to continue cooperating to implement the Vertical Corridor project and harmonize gas sources to improve functional compatibility.
The parties noted progress in the southern part of the Vertical Corridor, including the upcoming October launch of the liquefied natural gas terminal in Alexandroupolis.
The Verical Corridor participants include DESFA and Gastrade (Greece), ICGB and Bulgartransgaz (Bulgaria), Transgaz (Romania), FGSZ (Hungary), EUStream (Slovakia), GTSOU (Ukraine), and Vestmoldtransgaz (Moldova).
This project aims to enhance the transportation of liquefied natural gas (LNG) to the EU, along with gas sourced from the Caspian region.
