DESFA reassures there are no natural gas supply problems

Greece does not import natural gas from the Gulf region, therefore it does not face a market supply issue due to developments in the region.

War continuation would be a bad development for the market

However, the natural gas market is international and prices are affected for everyone. Continuing the war for more months would be a bad development for the market, according to the Natural Gas National System Operator (DESFA).

Regarding the activities of the operator in Kuwait, the company said that they continue normally, as the operation of the liquefied natural gas (LNG) terminal in the country has not been interrupted. However, there is daily contact with the workers there, with the competent authorities and with the Greek embassy. It is recalled that DESFA has undertaken the provision of operation and maintenance services for the station in the country, which is one of the largest LNG storage and regasification stations in the world.

The vertical corridor is an opportunity for the country

Regarding the developments in relation to the vertical corridor for the supply of natural gas to Eastern Europe via Greece, the same sources stated that it is a very interesting prospect for both the country and the operator. “It constitutes,” they emphasized, “an opportunity for exports and an opportunity to support the goal of substituting Russian gas, taking advantage of the country’s geographical position as a gateway to Eastern Europe.”

The same sources indicated that depending on developments in the market of the wider region of SE Europe, one or two more liquefied natural gas terminals may be needed in Greece, in addition to the two already operating in Revithoussa and Alexandroupolis. As they said, the operator will cooperate with any interested investor.

Finally, DESFA’s assessment of the green transition is that it will not be implemented overnight, but gradually. “The mix will change gradually, as the demand for electricity increases due to digitalization. We cannot meet demand from a single source, gas will be present for a long time.”