The energy sector is facing significant challenges, both in Greece and in Europe. Market liberalization facilitates the penetration of new players and puts more pressure on companies to reduce their costs and diversify their products in order to cope with the new, increasingly competitive environment.
At the same time, the climate crisis is pushing states to accelerate their pace towards energy transition. The European Green Agreement already lays the foundations for a climate-neutral Europe by 2050, while in Greece the new National Energy and Climate Plan brings forward lignite phase-out and raises the targets for renewable energy production.
In addition, the geopolitical instability in our region makes it imperative to build new infrastructure that will diversify energy sources and supply routes and offer safe transport of natural gas from the rich deposits of the Eastern Mediterranean to European markets.
In this highly volatile environment, DEPA has successfully completed its transformation into a modern integrated energy company, while ensuring workplace peace. At the same time, it has improved its competitiveness by promoting a flexible organizational structure capable of keeping up with developments in the industry, while at the same time being able to always meet the increasing market demands through continuous upgrading the skills of its manpower.
Furthermore, the company enters into flexible outsourcing partnerships that allow the diversification of its products and services, the expansion of its retail activities and of its international commercial presence, through targeted sales in the markets of Southeast Europe.
In the same spirit, DEPA expands the use of natural gas by deploying Small Scale LNG smart technologies and promotes the use of LNG as a marine fuel in the Eastern Mediterranean by building an innovative carrier vessel that will supply the ports of the wider region. Moreover, through its nationwide network of CNG service stations (FISIKON), DEPA makes the environmentally friendly and cheaper gas fueled transportation accessible by more consumers in more regions of the country.
Thus, DEPA not only endured the pressures of the COVID-19 pandemic, but also managed to increase its market share, reduce prices and return tens of millions of euros to its customers, thanks to the successful renegotiation of its long-term supply contracts with foreign energy giants.
Looking forward, the company’s business plan involves the implementation of substantial investments in wind and solar energy, with the objective to create a “green” portfolio of more than 200 MW and invests in promising alternative energy sources, such as hydrogen. In fact, DEPA is a founding member of the European Alliance for Clean Hydrogen which is working on attracting investments in hydrogen and fuel cell technologies and is also taking initiatives to create the first hydrogen refueling plant in our country.
Concurrently, the company is enhancing its involvement in major international projects that strengthen Greece’s energy security and transform it into a natural gas hub throughout SE Europe. DEPA has assumed a leading role in the development of the EastMed pipeline that will transport gas from the Levantine fields to European markets, as well as in the new LNG FSRU Terminal in Alexandroupolis – one of the largest energy infrastructures implemented in our country in recent decades, with a budget of more than €370 million which will distribute natural gas from all over the world, thus contributing decisively to the security of energy supply, not only of Greece, but also of Europe.
These two major projects will operate in full synergy with the Greece-Bulgaria Natural Gas Interconnector (IGB), another pipeline of strategic importance whose development DEPA accelerates both in the Greek and the Bulgarian sections.
Summing up, by taking initiative on all fronts, DEPA establishes its leading position in the Greek energy market, through the improvement of its operations and expansion of its activities, while developing the infrastructure that will guarantee the energy security of our country and upgrade its geopolitical position.
– This article was published in the special edition curated by energypress.gr regarding the energy market prospects for 2021
– Source: https://energypress.gr/news/i-depa-edraionei-ti-thesi-tis-stin-elliniki-agora-energeias