Greece has significantly reshaped its natural gas supply structure in 2026, with liquefied natural gas (LNG) emerging as the dominant source of supply while imports from Russia continue to decline rapidly.
New data from the Green Tank research organization show that LNG covered nearly two-thirds of Greece’s gas demand in the first five months of the year. Imports via the Revithoussa LNG terminal and the Alexandroupoli floating storage and regasification unit (FSRU) reached a record 18.9 TWh between January and May, accounting for 64.3% of total consumption.
At the same time, Russian pipeline gas has continued to lose market share. Deliveries through the Sidirokastro interconnection totaled 7.2 TWh, marking a decline of almost 40% compared with the same period in 2025. This reduced Russia’s share of the Greek gas market to 24.4%, down significantly from previous levels.
Azerbaijan also saw a slight reduction in its role. Gas flows through the Trans Adriatic Pipeline (TAP) entering Greece at Nea Mesimvria amounted to 4.3 TWh, giving it a 14.7% market share.
This shifting import structure supports Greece’s strategic goal of fully phasing out Russian gas imports by the end of 2027. However, the transition is not without challenges. Rising geopolitical tensions in the Middle East have contributed to higher LNG prices, increasing the overall cost of diversification.
Another emerging issue is Greece’s growing dependence on American LNG. In certain periods, shipments from the United States accounted for up to 80% of total LNG imports, raising concerns about supply concentration despite improved diversification away from Russia.
Beyond domestic consumption, Greece is increasingly strengthening its position as a regional gas hub. Gas exports surged during the first five months of the year to 8 TWh, four times higher than in the same period of 2025. Around 6.7 TWh of these exports were transported northward through the Sidirokastro pipeline to Balkan markets.
Despite these structural changes, total gas consumption remained stable at 29.35 TWh. The power generation sector remained the largest consumer, accounting for 63.1% of demand, followed by households and small businesses at 25.4%, while industrial users made up 11.6%.
Overall, the data highlight Greece’s dual transition: reducing reliance on Russian gas while expanding LNG infrastructure and reinforcing its role as a key energy gateway for Southeast Europe.
