Investors show little interest in gas corridor linking Greece to Ukraine
The newspaper reported that the latest tender held on Tuesday for the so-called Vertical Corridor attracted almost no investor demand. A similarly weak response was also recorded during a tender for the Northern Corridor conducted on Monday, January 26.
Demand Far Below Expectations
Under the February supply plan, 71.7 gigawatt-hours of natural gas were expected to be transported to Ukraine through Greece and Southeastern Europe. However, Kathimerini noted that only 48 megawatt-hours of capacity found investor interest during the tender.
The only route to attract any demand involved transporting liquefied natural gas (LNG) from the Revithoussa or Alexandroupolis LNG terminals, through Bulgaria, Romania, and Moldova, and onward to Ukraine. Even along this route, interest reportedly fell well below expectations.
Falling Ukrainian Demand and Cost Concerns
Analysts cited by Kathimerini attributed the lack of investor appetite to declining natural gas demand in Ukraine and Kyiv’s expectation of securing lower-priced gas supplies.
The report also noted that previous tenders for the Vertical Corridor had similarly failed to generate significant interest. Despite tax incentives introduced by participating countries, the cost of transporting gas to Ukraine via Greece remains higher than alternative routes through Poland, Hungary, and Slovakia.
As a result, the Greek-led corridor continues to struggle to establish itself as a competitive energy supply route for Ukraine.
