A plan to turn an empty undersea reservoir into Greece’s largest natural gas storage facility has been unveiled by Aegean Energy, a gas and oil exploration company.
The project, budgeted at €400 million, involves pumping gas compressed at the company’s facilities in Kavala, northern Greece down a 36-km undersea pipeline into a depleted natural gas reserve.
The reservoir can be operational within the next year and a half, using existing infrastructure, Aegean Energy chairman Mathios Rigas, says.