Greek LNG imports boosted by US supplies in Q1

Greek LNG imports have boomed due to higher volumes supplied from the US.

The increasing trend in gas consumption in Greece continues, according to DESFA’s data for the first quarter of 2022. Considering that, the Revithoussa LNG Terminal (Agia Triada entry point) is the main natural gas entry gate of the country in this period and the point of interconnection with the TAP pipeline (Nea Messimvria entry point) to also contribute significantly to gas inflow in the NNGS.

Deliveries

Hence, for the period of January – March 2022, domestic gas consumption increased by 6.18%. Thus, reaching 18.74 Terawatt hours (TWh), from 17.64 TWh in the corresponding period last year.

Gas imports amounted to 21.33 TWh, showing an increase of 11.33% from 19.16 TWh in the first quarter of 2021. In the meantime, exports to Bulgaria amounted to about 2.58 TWh, a quantity increased by 73.65% compared to that exported in the corresponding period of 2021, covering 12.05% of total demand.

The largest quantities entered the country from the Revithoussa LNG Terminal, covering 43.23% of imports. In particular, about 9.02 TWh of LNG were unloaded from 21 vessels from 6 countries. Note that, there were about 5.43 TWh from 9 vessels in the corresponding period of the previous year.

The increase mainly concerns LNG cargos from the USA. Particularly, reaching 4.11 TWh, compared to 1.12 TWh in the same period last year. Thus, the USA remains the largest LNG importer in Greece with 45.57%. Second in place, were imports from Algeria (1.48 TWh), followed by Nigeria (1.20 TWh), Egypt (1.08 TWh) and Oman (1.03 TWh), with Indonesia (0,11 TWh) being in the last position.

Regarding the contribution of the other entry points, the entry point of Sidirokastro covered 36.71% of the imports (7.83 TWh), followed by the entry point in Nea Messimvria, which, through TAP, covered 17.82 % of imports (3.80 TWh). Finally, the interconnection point in Kipoi, Evros, covered 2.20% of imports (0.47 TWh).

Greek LNG Rise

In view of the above and considering that Europe aims to detach from the Russian resources, the Greek LNG imports will expectedly increase. Since ancient times, Greece was a significant trading hub and will potentially achieve the same in the modern era.

DESFA’s infrastructure continues to contribute substantially to the diversification of gas supply sources and security of supply.

Note that, Gastrade’s shareholders DESFA, Copelouzou, DEPA, GasLog, and Bulgartransgaz proceeded with; a final divestment decision on the first FSRU offshore Alexandroupolis, Greece.

Following the proposed LNG projects, Greece can establish five offshore FSRU facilities along with the onshore Revithoussa terminal.

Source: DESFA

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