Greece Banking on $30-50 Million Annually from Burgas-Alexandroupolis Oil Pipeline; Gas Network Improves, Greece-Albania-Italy Pipeline Considered
According to the Athens News Agency, the just-agreed Burgas-Alexandroupolis oil pipeline should incur a profit of somewhere between $30-50 million. Maybe this will be a start towards paying off those Olympics bills.
Greek Deputy Development Minister George Salagoudis presented these figures on Sunday, and claimed that by the end of 2008 an estimated 35-50 million tons of crude oil would be flowing through Alexandroupolis. When asked whether the project was a go, Salagoudis "...ruled out the prospect of cancellation of the project, although he did say there could prospectively be a delay."
The Deputy Minister tried to portray this event as an apparent victory for the Nea Demokratia government, which after winning parliamentary elections one year ago has also overseen a strong increase in the national gas grid: the Attica natural gas corporation EPA "...had made 1,600 links to the natural gas grid in 2003, while the number of link-ups jumped to 7,000 in 2004, while in Thessaloniki the link-ups with the grid more than doubled from 6,200 in 2003 to 13,000 in 2004, Salagoudis said."
This has already started to pay off, he said, citing the case of AHEPA (a hospital in Thessaloniki), which this winter saved roughly a third of the 520,000 euros for heating oil it had spent during the previous winter, as a result of its link-up with the natural gas grid. However, Salagoudis did not mention that this winter was somewhat milder than last, with its record-setting snowfall.
The government has another reason to be confident about energy-sector developments. On April 7, it was reported that a Swiss company plans to build an Italy-Albania-Greece gas pipeline to service electrical stations in Italy to be built by its parent firm. The company, EGL (Elektrizitatz-Gesellschaft Laufenburg AG), is carrying out feasibility studies for the 230 KM route termininating, like the proposed AMBO oil pipeline route, in the deep-water Albanian Adriatic port of Vlore.
If completed, the pipeline will carry 10 billion cubic meters of gas annually. EGL parent company AXPO, Switzerland's largest energy company, will need 3.5 billion cubic meters of gas for the 4 power plants it is building in Italy, says the Associated Press. Robert Klein, head of EGL European logistics, told the news service that the company will spend $322 million on the land segment of pipeline and compression station in Vlore, and $232 million on the offshore section of pipeline in the Adriatic.
Greek Deputy Development Minister George Salagoudis presented these figures on Sunday, and claimed that by the end of 2008 an estimated 35-50 million tons of crude oil would be flowing through Alexandroupolis. When asked whether the project was a go, Salagoudis "...ruled out the prospect of cancellation of the project, although he did say there could prospectively be a delay."
The Deputy Minister tried to portray this event as an apparent victory for the Nea Demokratia government, which after winning parliamentary elections one year ago has also overseen a strong increase in the national gas grid: the Attica natural gas corporation EPA "...had made 1,600 links to the natural gas grid in 2003, while the number of link-ups jumped to 7,000 in 2004, while in Thessaloniki the link-ups with the grid more than doubled from 6,200 in 2003 to 13,000 in 2004, Salagoudis said."
This has already started to pay off, he said, citing the case of AHEPA (a hospital in Thessaloniki), which this winter saved roughly a third of the 520,000 euros for heating oil it had spent during the previous winter, as a result of its link-up with the natural gas grid. However, Salagoudis did not mention that this winter was somewhat milder than last, with its record-setting snowfall.
The government has another reason to be confident about energy-sector developments. On April 7, it was reported that a Swiss company plans to build an Italy-Albania-Greece gas pipeline to service electrical stations in Italy to be built by its parent firm. The company, EGL (Elektrizitatz-Gesellschaft Laufenburg AG), is carrying out feasibility studies for the 230 KM route termininating, like the proposed AMBO oil pipeline route, in the deep-water Albanian Adriatic port of Vlore.
If completed, the pipeline will carry 10 billion cubic meters of gas annually. EGL parent company AXPO, Switzerland's largest energy company, will need 3.5 billion cubic meters of gas for the 4 power plants it is building in Italy, says the Associated Press. Robert Klein, head of EGL European logistics, told the news service that the company will spend $322 million on the land segment of pipeline and compression station in Vlore, and $232 million on the offshore section of pipeline in the Adriatic.
posted by EuroPipelines Editor at 4/18/2005 09:38:00 PM
<< Home