“Vertical Corridor” Natural Gas Transport Initiative to Connect Ukraine with Greece After MoC Signed

Slovakia, Moldova, and Ukraine were included in the joint initiative to transport natural gas from and to central and southeastern Europe after the natural gas infrastructure operators involved in the project signed a relevant Memorandum of Cooperation (MoC), Friday on the sidelines of the 2-day Ministerial Conference of CESEC (Central and South Eastern Europe Energy Connectivity) hosted in Athens.

The “Vertical Corridor”, as it is known, aims to utilize European natural gas and LNG transmission networks, leveraging the enhanced capabilities of new and developing FSRUs (Floating Storage and Regasification Units).

This action can further expand with the use of the facilities for renewable gases and hydrogen, highlighting the initiative’s potential impact on energy connectivity and diversification in the region.

The Memorandum of Cooperation, which involves 8 countries, expresses the commitment of the natural gas and LNG transmission system operators from Greece, such as DESFA and Gastrade, Bulgaria (ICGB, Bulgartransgaz), Romania (Transgaz), Hungary (FGSZ), and Slovakia (EUStream), to promote PCI (Projects of Common Interest) and other necessary projects, jointly or individually, for the activation of the Vertical Corridor.

The Greek Minister of Environment and Energy, Mr. Theodoros Skylakakis, stated: “The signing of the Memorandum of Cooperation, which now includes the system operators of Slovakia (EUStream), Moldova (Vestmoldtransgaz), and Ukraine (GTSOU), is a very important step towards reinforcing the energy supply security of the wider region.”

Source: tovima.com