Deputy Environment, Energy and Climate Change Minister Makis Papageorgiou and Ambassador of Belgium to Greece Marc Van den Reeck on Monday signed a deal of cooperation in the natural gas market. Greece’s Regulatory Authority for Energy (RAE) and the Regulatory Authority for Electricity and Gas in Belgium (CREG) signed a Memorandum of Understanding (MoU) on issues related to the implementation of EU legislation and national regulations, aiming at the effective and efficient energy market. Moreover, the administrator of the Belgian natural gas system (FLUXYS) and the Greek natural gas grid operator (DESFA) signed an agreement to create a virtual gas hub in Greece. More specifically, they have provided for the drafting of a feasibility report for the establishment of a wholesale gas market in Greece, including the implementation of a virtual gas hub where market players can negotiate quantities of gas. Fluxys holds a 16 percent stake in the consortium to build and operate the Transadriatic Pipeline (TAP), which will run across northern Greece, and according to sources, it is closely monitoring developments in the transfer of DESFA’s 66 percent stake to Azeri firm Socar. Belgian officials are even rumored to have expressed their interest in the Greek operator in case the deal with Socar does not go through to Greek authorities. They have further attributed their abstention from the 2012 tender for the DESFA stake to uncertainty regarding the Greek economy at the time. Papageorgiou said in a statement that “today, we are joining forces with very important partners, whose experience in the adoption of best practices in a wide range of energy issues will further strengthen our efforts.” Source: AMNA
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