Feb 23 • 10:29 UTC 🇬🇷 Greece To Vima

Strong message for the Vertical Corridor: Successful auction at Route 1

The auction for the Route 1 energy corridor concluded successfully, signaling significant interest ahead of crucial meetings in Washington.

An important message was sent regarding the Vertical Corridor just one day before a critical meeting of the Greek Minister of Environment and Energy, Stavros Papa-stavrou, regarding the corridor in the U.S. The auction held on Monday for the Route 1 energy capacity (Greece-Ukraine) was completed with great interest, reflecting close cooperation between DESFA and regional TSOs like Bulgartransgaz, Transgaz, VestMoldTransgaz, and GTSOU. DESFA announced that approximately 98% of the offered capacity for March was secured, with 25 million KWh committed out of a total of 25,554,129 KWh offered.

The success of this auction reflects the increasing viability of the Vertical Corridor as a new energy backbone for Europe. It offers a reliable and competitive route for the supply of diversified natural gas quantities from Southern to Northern Europe. This development comes ahead of a series of critical discussions scheduled to take place in Washington, where the significance of the Vertical Corridor will likely be emphasized. The strong commitment shown in the auction highlights the corridor's potential to enhance energy diversity and security in the European market, solidifying its role in the energy transition efforts of the continent.

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