UNDERGROUND GAS STORAGE
We are contributing to secure the reliability of gas supplies to consumers in Greece, irrespective of the temperature, season, or geopolitical circumstances.
Natural gas storage, specifically Underground Gas Storage (UGS), is integral to ensuring security of supply. The storage system levels off fluctuations between gas supply and demand, which is of particular relevance during the winter season when demand for gas is at its highest. UGS also plays an essential role in minimising the need to import more gas in times of high demand while contributing to absorb supply shocks. In 2022, and as a result of a prolonged period of volatile and high energy prices, the European Commission adopted the Gas Storage Regulation (EU/2022/1032), making gas storage facilities critical infrastructure.
In April 2022, HEREMA was appointed as the licensing authority, on behalf of the Hellenic state, for the exploration and underground storage of gases and liquids such as natural gas and hydrogen (Law 4920/2022, Government Gazette A '74/ 15.04.2022).