Kavala deposit taken off PCI list

The cost of the government's handling of the power interconnection between Crete and Attica and the related clash with the European Commission is rising.

The first reaction from Brussels to the unilateral decision of the government and the Regulatory Authority for Energy concerning the Crete-Attica linkup came last week and did not refer to the expected probing of RAE's decisions regarding their compatibility with Projects of Common Interest (PCI) regulations.

It actually pertained to the exclusion from the PCI list of the underground natural gas deposit in Kavala, northern Greece, a development that has shocked state privatization fund TAIPED; this is because the project had been set as a priority for 2019 and is not experiencing any delays, pending issues or disputed aspects that could have led to its removal from the PCI list, given that it could play a vital role...

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