In This Article:
*
Greece has reduced Russian gas imports by over half this year
*
Has ramped up purchases from other countries
*
LNG terminal receiving increased cargoes
By Angeliki Koutantou
REVITHOUSSA, Greece, Sept 23 (Reuters) - Greece has cut Russian gas imports by more than half this year thanks to increased deliveries from other producers to its sole liquefied natural gas (LNG) terminal near Athens, the country's gas grid operator said on Thursday.
Greece has relied on Russia for about 40% of its gas needs for years but it has ramped up LNG purchases from other countries in line with a European Union plan to cut dependence on Russian energy. It has been receiving Russian gas via the Turkstream pipeline which also delivers to Hungary via Serbia.
Its LNG facility on the Revithoussa islet, 25 miles (40 kms)from Athens, can store 225,000 cubic metres of gas and regasify 1,400 cubic metres per hour.
It is attracting growing interest from domestic and regional importers and has played a pivotal role in Greece's energy strategy and its efforts to boost security of supplies ahead of winter, Maria Rita Galli, the chief executive of the Greek gas grid operator DESFA told Reuters.
"In the context of the energy crisis, Revithoussa is the import infrastructure, the import terminal that is enabling different sources of supply, different sources of LNG to reach the Greek gas market," Galli said.
"Already this year, having maximised the use of Revithoussa, we have seen the import of gas from Russia dropping from 40% to less than 20%".
With increased demand for LNG across the world, cargoes arriving in Revithoussa have doubled year-on-year.
GREEK EXPORTS
Bulgaria has also been importing LNG through the terminal after being cut off from Russian supplies following its refusal to pay in roubles.
Speaking at an energy conference in Bucharest on Thursday, Greek Energy Minister Kostas Skrekas said his country had exported 2 billion cubic metres (bcm) of natural gas to Bulgaria and neighbouring countries so far this year, up from 0.7 bcm in 2021.
"There is a growing interest. We have many interested parties looking at booking slots in the terminal," Galli said. "In October, we will run the auction for 2023... and we do expect strong interest from national and international players."
Nearly two-thirds of 6.5 bcm of gas that Greece consumes annually is used for electricity generation.
Like other European countries, it has grappled with soaring energy prices and has spent some 9 billion euros ($8.85 billion) since last year to subsidise power bills for households and businesses.