Papathanasis: EU approves financing of the ‘Alexandroupolis Independent Natural Gas System’

The European Commission issued the decision approving the EU financial contribution for the implementation of the project “Alexandroupolis Independent Natural Gas System (INGS)”, in the context of the Operational Program EPANEK 2014-2020, Alternate Minister of National Economy and Finance, Nikos Papathanasis, announced on Monday.

The total eligible cost through NSRF for the completion of the project is set at 202,265,539 euros.

More specifically, the European Commission, having previously examined the data provided by the managing authority of the “Competitiveness” Program, concluded that the European financial contribution to the project, selected by the special service, was fully justified.

The Ministry of National Economy and Finance said that the EU decision marks the recognition of the importance of the project both for strengthening the role and prospects of Greece as a hub in the transmission of energy in the wider region, and as a source for the energy supply of the country with natural gas.

The commissioning of the Alexandroupolis LNG Terminal is expected on October 1, 2024.