The strategic importance of the Vardax pipeline as an energy corridor for the Western Balkans was highlighted by Helleniq Energy CEO Andreas Shiamishis at the company’s pavilion at the 90th Thessaloniki International Fair (TIF).At a meeting with journalists, he also presented the company’s next steps and five-year plans, which include investments approaching €5 billion.The Vardax pipeline is 213 km long and connects the Thessaloniki Industrial Facilities with OKTA in the Republic of North Macedonia. After years of inactivity, it is returning fully upgraded following a €30 million investment programme. As the company’s CEO stressed, the project makes a significant contribution on multiple fronts: energy security and uninterrupted supply, improved product availability, greater resilience in the fuel market, reduced reliance on road transport, fewer delays at border crossings and more competitive market conditions.At the same time, the pipeline is of strategic importance to Helleniq Energy itself, strengthening the company’s role – as well as that of Thessaloniki – as a key pillar of energy security in Southeastern Europe and connecting Greece’s refineries with the growing markets of the Western Balkans.Upgrading the Thessaloniki facilitiesShiamishis also presented journalists with the Helleniq Energy Group’s plans for further growth across all of its business areas.In this context, he announced that a study for upgrading the company’s Thessaloniki facilities will begin within the next six months, with the aim of further increasing production capacity and exports to neighbouring Balkan countries.The upgrade of the Thessaloniki facilities forms part of the company’s major five-year investment programme, which approaches €5 billion. At the same time, the company aims to invest in electricity storage. “The big investments need to be made in batteries,” he said, adding that a major battery park at the Thessaloniki industrial facilities is already ready. The facility has a capacity of 200 MWh and represents an investment of around €55 million.The company also aims to double its share of the electricity market in a fair manner towards customers. Asked whether the company would respond to the blue electricity tariff recently announced by PPC, Shiamishis replied: “We will see what we will do.” More broadly, regarding the electricity market, he set the goal of increasing the company’s market share “in a fair manner towards the customer” and gradually doubling its position both in power generation and electricity retail.Regarding the construction of the Thessaloniki FSRU in the Thermaic Gulf, he stressed that it is the most advanced in terms of licensing among the corresponding potential investments in the country, but that a final investment decision has not yet been taken and will depend on developments. The potential construction of a new combined-cycle gas-fired power plant by Enerwave at Diavata, Thessaloniki, also remains under consideration.Shiamishis also announced that drilling at Block 2 in the Ionian Sea will begin in April.