The Greek government expected that its energy sector would draw investments of 4.5 billion euros (5.9 billion U.S. dollars) by 2010, the Development Minister Dimitris Sioufas said on Tuesday.

"The central concern of our new energy policy is to strengthen the country's international role in the sector," Sioufas said after a cabinet meeting.

The new policy focused on the deregulation of domestic electricity and natural gas markets, expansion of the natural gas network, the use of lignite, and the promotion of large-scale investments in renewable energy and energy saving, the minister said.

The government also wanted to make Greece an international transit center for natural gas, electricity and oil.

Work had been undertaken to lessen the country's dependence on oil, Sioufas noted.

A new framework was being devised for research and extraction of hydrocarbons that would attract fresh investment, and the codification of laws on quarrying and mining, the minister said.

In addition, by the end of 2006 an electricity transmission lines would be completed, linking Greece to Macedonia, and in 2007, a transmission line to Turkey. Links will also be built to Bulgaria and Italy, Sioufas added.

Not only would Greece's electricity supplies be ensured, he said, but also the conditions would be created to enable the export of electricity produced by the Public Power Corporation and private output plants in the immediate future.

Source: Xinhua