The Thessaloniki-Skopje oil pipeline was put into operation on New Year’s Eve, the CEO of Helleniq Energy Andreas Shiamisis, said on Monday, speaking at a company event.

He explained that there is a vertical energy supply corridor with traditional products in force, given that the pipeline will transport diesel, which is the main product in the wider region. The first cargo has already been delivered and the second will follow within the days. As Shiamisis stated, the operation of the pipeline facilitates exports not only to North Macedonia but also to neighbouring markets such as Kosovo, Southern Serbia and Bulgaria, strengthening the country’s geopolitical footprint in the region. It also relieves Thessaloniki of significant traffic congestion and environmental burden caused by the movement of fuel trucks that were used to transport fuel supplies over the last 13 years – a period during which the operation of the pipeline was suspended.

The head of the group confirmed the schedules for exploratory drilling in Block 2 of the Ionian Sea, by the joint venture with ExxonMobil and Energean in the next 12-18 months, as well as for seismic surveys south of the Peloponnese in collaboration with Chevron. He also focused on the geopolitical importance of these developments in relation to the consolidation of the country’s sovereign rights.

Shiamisis also stated that:

– In 2025, for the fourth year in a row, the company had operating profits of over 1 billion euros.
– It is difficult but not impossible for Greece to procure oil from Venezuela.
– The investment decision for the installation of a floating liquefied natural gas unit in Thessaloniki will be taken in connection with the prospect of restoring relations with Russia, which is considered to happen in the long term.
– Planned investments include the upgrade of the power plant in Thisvi, costing 50 million euros and scheduled for completion in early 2027.
– In the retail electricity market, the goal is to achieve a 10% share by the end of 2030.
– In the coming weeks, the group’s first storage units (batteries) will be put into operation in Thessaloniki. At the same time, the development of RES units is progressing with a target of 1 gigawatt. Batteries will also be added to almost all of the “green” production capacity.