The latest auction for the special capacity product known as Route 1, designed for transporting natural gas from Greece to Ukraine through the Vertical Corridor, once again drew no participants. This was the fifth attempt, following similar results in earlier rounds.
Analysts note that the lack of interest is linked to temporary circumstances rather than a rejection of the route itself. Lower gas demand, the war in Ukraine, and the availability of cheaper supply alternatives have reduced its attractiveness in the short term.
Despite the absence of bids, Greece’s natural gas transmission system operator DESFA and its partners continue to support the project, highlighting its long-term importance for strengthening Ukraine’s energy security. They plan to hold further auctions, pointing out that one or two unsuccessful rounds are not unusual in the gas market. The European Commission has also reiterated its support, recently urging operators to improve the competitiveness of the Vertical Corridor.
Although currently underused, the infrastructure retains strategic importance. Once market conditions change and costs become more competitive, Route 1 could play a key role in securing stable gas supplies to Ukraine.
