Greece, Country not expecting gas supply disruptions

, SEE Energy News

After Gazprom decided to halt gas supplies to Poland and Bulgaria for noncompliance with Russia’s demand requiring payment in rubles, Greek Government’s main concern is to ensure the country’s energy sufficiency in the case of a complete cessation of gas flows from Russia.

In response to the Russian decision, Prime Minister Kyriakos Mitsotakis held a meeting with energy sector representatives to discuss unfolding developments and how Greece’s gas supply could be impacted. The conclusion of the meeting is that no disruption is expected in the country’s natural gas supply.

Russian gas accounts for more than 30 % of Greece’s annual natural gas demand. Greece’s next payment to Gazprom is due in May under a contract that expires in 2026.

The payments for Russian gas imported by Greece through the companies DEPA, Mytilineos Group, Prometheus Gas and Public Power Corporation (PPC) were also discussed at the meeting. The latter imports gas directly from Gazprom after the assignment of part of the contract of Prometheus Gas for the years 2022 and 2023. All four companies will have to pay for April’s consumption within the latter part of May.

The contracts of the Greek companies expire in 2026 for DEPA, Prometheus and PPC and in 2030 for Mytilineos, while they also include take-or-pay clauses.

At the same time, PM Mitsotakis offered help to Bulgaria in dealing with the new situation caused by the Russian decision to halt gas supply to the country.