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The Greek Ministry of Energy is considering storing natural gas in Italy and Bulgaria to ensure sufficient supply for the 2022-23 winter season.
The European Commission is asking all European Union member states without gas storage facilities to conclude agreements with countries that have storage facilities by November 1st this year for quantities equivalent to 15% of annual gas consumption. In the case of Greece, the annual consumption of natural gas in 2020 was 5.8 billion cubic meters, which means that a stored quantity of 0.9 billion m³ has to be secured.
Bulgaria has one natural gas storage facility connected to the Hellenic Gas Transmission System Operator (DESFA), with a second connection point soon to be operational via the Greece-Bulgaria (IGB) gas interconnector. However, Bulgaria’s underground facility has a relatively limited capacity of 0.6 bcm.
The storage capacity in Italy is in the order of 20 billion m³. Greece is connected to these via Albania and the Trans-Adriatic Pipeline (TAP). In this case, the required quantities can be secured on the basis of exchange contracts.
