Greece: More than €157 million in EU funds for a new Independent Natural Gas system in Alexandroupolis

Athens: The European Commission has approved an investment of more than €157 million from the European Regional Development Fund for the first phase of a new natural gas system in Alexandroupolis. The system comprises a floating storage and regasification unit – which converts liquefied natural gas (LNG) back to gas – and a pipeline.

The system will have a positive social impact in the region, generating estimated economic benefits of over €1.2 billion and boosting many sectors by providing access to less expensive energy.

A key focus of the project is job creation. By building capacity among local enterprises and workers, the region will be equipped to manage much of the system’s development and organisation.

The project is expected to generate €382 million in CO2 emission and fuel-switch savings by contributing to the replacement of coal and oil by gas.

To explore EU-funded projects and to know more about the implementation of EU funds in Greece please visit Kohesio and the Cohesion Open Data Platform.