August’s developments in the region centred on gas infrastructure, supply diversification and selective investment in flexible gas-fired capacity rather than a broad return to conventional baseload generation. The shift is reflected in new LNG deliveries, pipeline-linked corridor upgrades and project pipelines for gas-to-power.
Bulgaria expands LNG use via Alexandroupolis FSRU
In Bulgaria, DEPA Commercial delivered 500 GWh of LNG to Bulgartransgaz through the Alexandroupolis FSRU. The delivery represented Bulgartransgaz’s first use of LNG from the terminal for system requirements. It also strengthens the north-south gas corridor connecting Greek LNG infrastructure with Bulgaria and markets further north.
Southeast European gas security has historically depended heavily on east-west pipeline flows. Additional LNG entry points can lower reliance on individual supply routes while increasing competition between pipeline gas and imported LNG.
EU network-code rules extend to Energy Community borders
Regulatory integration is progressing alongside physical infrastructure changes. EU gas network-code rules are beginning to extend to external borders with Energy Community Contracting Parties. The scope includes capacity allocation, balancing and interoperability.
This regulatory expansion aligns with ongoing infrastructure work intended to support cross-border system operations.
Serbia’s pipeline and CHP plans near Niš
Serbia is preparing a larger domestic gas infrastructure programme. Belgrade and the World Bank are developing a multi-year investment package approaching €1 billion, initially focused on the Niš–Velika Plana pipeline. Future investment options include gas storage and additional transmission connections.
The country is also working with SOCAR on a preliminary feasibility study for a planned approximately 500 MW gas-fired combined heat and power plant near Niš. The potential development horizon is around 2030. The project remains at an early stage, but it points to a changing role for gas in Serbia’s future power system.
Greece advances Larissa CCGT contract, decision pending
Greece has a more advanced gas-to-power proposal. Larissa Thermoelectric awarded AVAX an EPC contract for a planned 794 MW CCGT, based on Mitsubishi Power technology. The project is still awaiting a final investment decision expected later in 2026.
The economics for these new gas-fired plants are expected to differ from those of older conventional generators. As solar and wind penetration increases, annual operating hours may decline while the value of selected high-price periods rises. New combined-cycle units will increasingly rely on market spreads, capacity remuneration, ancillary-service revenues and efficient operation across variable load conditions.
Gas value shifts toward flexibility and balancing services
The changing market structure affects how investors assess gas-fired generation. The future value of a gas asset depends less on total operating hours and more on how efficiently it can respond during periods when the power system needs flexible generation most.
In this context, gas is not necessarily returning as traditional baseload capacity in Southeast Europe. Its emerging role is increasingly tied to flexibility, security-of-supply and balancing support for power systems with higher shares of intermittent renewable generation.
