Thessaloniki–Skopje oil pipeline comes online after 13 years
Speaking at a company event, Siamisis said the pipeline establishes a “vertical corridor” for energy supply, carrying diesel fuel, the region’s primary petroleum product. The first shipment has already been delivered, with a second cargo expected in the coming days.
According to Siamisis, the pipeline’s operation facilitates exports not only to North Macedonia but also to neighboring markets including Kosovo, southern Serbia and Bulgaria, strengthening Greece’s geopolitical footprint in the wider region. He added that the pipeline also relieves Thessaloniki of significant traffic congestion and environmental strain, as fuel supplies over the past 13 years had relied on tanker trucks following the suspension of pipeline operations.
The head of Helleniq Energy also confirmed the timetable for an exploratory drilling project in Block 2 of the Ionian Sea, to be carried out by a consortium with ExxonMobil and Energean within the next 12 to 18 months. He further noted that seismic surveys south of the Peloponnese are proceeding in cooperation with Chevron, underlining the geopolitical importance of these developments in safeguarding Greece’s sovereign rights.
Siamisis also highlighted several key points regarding the group’s outlook and investments:
In 2025, for the fourth consecutive year, Helleniq Energy posted operating profits exceeding €1 billion.
While challenging, it is not impossible for Greece to source oil from Venezuela.
A final investment decision on a floating liquefied natural gas (LNG) terminal in Thessaloniki will depend on prospects for a long-term restoration of relations with Russia.
Planned investments include a €50 million upgrade of the Thisvi power generation plant, expected to be completed in early 2027.
In the retail electricity market, the group aims to secure a 10% market share by the end of 2030.
The company’s first energy storage units (battery systems) in Thessaloniki will become operational in the coming weeks, alongside the continued development of renewable energy projects targeting 1 gigawatt of capacity. Battery systems will be added to nearly all of the group’s green power generation assets.
