Greece will spend USD 14.5 billion to modernise its energy networks and become the “energy hub of the Balkans,” Premier Costas Simitis said. The eight-year programme includes plans for Greece to link up with European energy grids and boost imports of natural gas via neighbour Turkey. By 2010 Greece will expand and boost its existing electricity and natural gas distribution networks. Greece will also complete its interconnection with the Italian grid, upgrade its link with Bulgaria and connect its grid to those of central Europe via Bosnia and Croatia. On March 28, Greece and Turkey announced a plan to reach an agreement by 2006 to connect their respective power grids. On the same day, the two countries signed a USD 300 million deal to extend an Iranian natural gas pipeline from Turkey into Greece.
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