Representatives of Balkan energy companies last week (08/04/03) signed in Thessaloniki a protocol of cooperation for the construction of of a natural gas pipeline which will link Greece to Austria. The meeting, which took place behind closed doors at the Macedonia Palace Hotel, was attended by representatives of Greece’s Public Gas Corporation (DEPA), Turkey’s BOTAS, BH-Gas (Bosnia-Herzegovina), MakPetrol (the Former Yugoslav Republic of Macedonia), NIS-Gas (Serbia) and by Albania’s Industry and Energy Ministry. Letters confirming agreement were sent by Croatia’s Plin Acro and Slovenia’s Geoplin companies. A question mark was raised regarding Austria’s OMV, which had been expected to attend and sign. The meeting was a joint initiative by DEPA and BOTAS, which have already agreed to cooperate in a pipeline that will bring natural gas from the Caspian region to Europe. The protocol envisages an initial feasibility study.
ELPE
Greece’s biggest refiner, state-run Hellenic Petroleum (ELPE), is expected to complete negotiations for the procurement of equipment and construction of a 390 megawatt power station in Thessaloniki with Austria’s Vatech Hydro, which has been declared the provisional winner of a tender, after the withdrawal of the Tractebel-AEGEK consortium. ELPE has approved a financial scheme for the project with Vatech Finance, covering 80 percent of the investment, chiefly through a 14 year syndicated loan. The New gas fired combined cycle plant should be ready and operational by the end of 2005.