Greek LNG imports halve in Q1

LNG deliveries to Greece in the first quarter have halved year-on-year on lower volumes from the US and Qatar.

DESFA said in a report that its LNG import terminal located on the island of Revithoussa received in total 9 vessels in January-March, compared to 15 shipments in the same period last year.

The shipments totaled 5.43 terawatt hours, down 49.6 percent when compared to 10.78 TWh in the first quarter of 2020, the Greek gas grid and LNG terminal operator said.

Imports from the US and Qatar dropped considerably, logging a decrease of 81.6 percent and 68 percent, respectively.

On the other side, LNG supplies from Algeria surged 152 percent and the African country covered almost half of the volumes delivered to the Revithoussa terminal during the period under review.

The US followed with 21 percent of the total quantities imported, while Egypt and Qatar recorded a share of 17 percent, each, DESFA said.

To remind, US deliveries via the Revithoussa terminal rose more than six times last year while Qatari shipments also logged a 22 percent rise as LNG dominated over pipeline gas due to lower spot prices last year.

However, spot LNG prices surged to record levels in January, diverting cargoes from Europe to markets in Asia.

Greek total gas imports, including piped gas, also declined in the first quarter. Gas imports dropped 3.3 percent to 19.16 TWh, DESFA said.

Despite the decline in imports, gas consumption in Greece continued to rise. Domestic gas consumption increased by 4.56 percent, reaching 17.64 TWh, the firm said.

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