Energy infrastructure developments focus on Greece and Cyprus

Energy infrastructure and security are central themes at the 90th Thessaloniki International Fair. DEPA Emloria and Greek government officials highlighted Greece's strategic role as an energy hub for Southeast Europe, focusing on the Vertical Corridor, LNG, and the importance of long-term supply contracts to avoid spot market volatility.

In the petroleum sector, Helleniq Energy announced the reactivation of the Vardax pipeline, connecting Thessaloniki to North Macedonia. The upgraded pipeline is expected to transport 2.5 million tons of crude oil and petroleum products annually starting in early 2026, enhancing regional energy security.

Meanwhile, the Great Sea Interconnector (GSI) project, which will link the electricity grids of Cyprus and Greece, faces scrutiny over rising costs. While initial capital expenditure for the cable is estimated at €1.9 billion, Cypriot officials warned that total costs—including construction, maintenance, and insurance—will be significantly higher. A feasibility study from the European Investment Bank is expected by the end of the year to determine the project's final economic viability and the level of government participation.