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Jul 09, 2021 16:40 EEST
July 9 (SeeNews) - The governments of North Macedonia and Greece signed an agreement for the construction of a cross-border natural gas interconnector worth 100 million euro ($118.7 million), the government in Skopje said on Friday.
North Macedonia's government will contribute some 54 million euro of the total investment, it said in a press release.
The interconnector will help North Macedonia ensure security of gas supply and liquidity on the gas market, as well as to provide access to natural gas through the Southern Gas Corridor.
Thousands of people will be employed during the construction of the interconnector which will connect the gas distribution networks of the two countries, Greek minister of environment and energy, Kostas Skrekas, said in the press release.
North Macedonia's state-owned company National Energy Resources (NER) and Greece's gas operator DESFA are expected to sign an agreement which will guarantee the construction of the interconnector soon.
Earlier this year, NER and North Macedonia's state-owned electricity generation utility ESM signed a memorandum of cooperation to invest in a project for the construction of a floating liquefied natural gas (LNG) terminal and a gas-power plant off the coastal city of Alexandroupolis in Greece. North Macedonia plans to invest over 380 million euro in a 25% stake in the future 800 MW power plant and 370 million euro in a 10% stake in the LNG terminal, prime minister Zoran Zaev said in March.
The LNG terminal in Alexandroupolis, which is expected to become operational in early 2023, is planned to comprise an LNG floating storage and regasification unit (FSRU), which will be a new, independent energy gateway for the markets of Southeastern and Central Europe. The station will have an LNG storage capacity of 170,000 cubic meters and a natural gas supply capacity that will exceed 5.5 billion cubic meters per year.
The Southern Gas Corridor comprises the Trans Adriatic Pipeline (TAP), South Caucasus Pipeline (SCP) and the Trans Anatolian Pipeline (TANAP). Connecting with the TANAP at Greece's border with Turkey, TAP stretches across northern Greece, Albania and the Adriatic Sea before reaching southern Italy's coast where it connects to the Italian natural gas network.
($ = 0.8424 euro)
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