{"id":18735,"date":"2024-12-17T10:53:00","date_gmt":"2024-12-17T08:53:00","guid":{"rendered":"https:\/\/www.depa.gr\/?p=18735"},"modified":"2026-08-05T17:21:43","modified_gmt":"2026-08-05T14:21:43","slug":"depa-commerce-at-cop29-its-role-in-europes-energy-security-and-strategic-partnership-with-azerbaijan","status":"publish","type":"post","link":"https:\/\/www.depa.gr\/en\/depa-commerce-at-cop29-its-role-in-europes-energy-security-and-strategic-partnership-with-azerbaijan\/","title":{"rendered":"DEPA Commerce at COP29: Its Role in Europe’s Energy Security and Strategic Partnership with Azerbaijan"},"content":{"rendered":"

Athens, November 19, 2024<\/strong><\/p>\n

The strategic role of DEPA Commerce in the implementation of the Southern Corridor and the enhancement of Europe’s energy security was the central theme of a speech delivered by Christos Basdekis, Head of Customer Activities at DEPA, at the United Nations Climate Change Conference (COP29) in Baku.<\/p>\n

Mr. Basdekis highlighted the value of Greece’s longstanding strategic partnership with Azerbaijan, which began in the early 2000s and was solidified by the 25-year natural gas supply agreement between DEPA and AGSC. This partnership expanded the company\u2019s supply sources and bolstered Greece’s energy security.<\/p>\n

He also emphasized DEPA\u2019s continuous investment in the vision of the Southern Corridor through major projects, such as the Greece-Bulgaria Interconnector (IGB). The IGB began commercial operations in October 2021, with an annual transit capacity of 3 billion cubic meters (bcm) to Bulgaria, expandable to 5 bcm. DEPA has committed to long-term capacity agreements, ensuring the project\u2019s sustainability over time.<\/p>\n

Furthermore, Mr. Basdekis stressed the importance of upgrading the Vertical Corridor, highlighting Greece\u2019s role in the LNG sector and the critical contributions of infrastructure like the Revithoussa terminal and the Alexandroupolis FSRU. DEPA holds a 20% stake in the Alexandroupolis FSRU project and has secured long-term gasification capacity. Combined with the corresponding capacity commitments in the IGB, this guarantees an uninterrupted natural gas supply to the Vertical Corridor.<\/p>\n

In conclusion, Mr. Basdekis highlighted DEPA\u2019s evolution from a traditional natural gas wholesaler into a comprehensive energy provider. This transformation encompasses strategic investments in renewable energy and green gases, such as hydrogen, underscoring the company\u2019s dedication to advancing the energy transition and fostering sustainable development in the region.<\/p>\n

\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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