US LNG supplies boost Greek imports in Q1

Liquefied natural gas deliveries to Greece surged in the first quarter of this year due to higher volumes from the US, according to DESFA.

DESFA said in a report this week that its LNG import terminal located on the island of Revithoussa received in total 21 vessels in January-March, compared to just 9 shipments in the same period last year.

The shipments totaled 9.02 terawatt hours, compared to 5.43 TWh in the first quarter of 2021, the Greek gas grid and LNG terminal operator said.

US LNG deliveries via the Revithoussa terminal surged to 4.11 TWh and compare to 1.12 TWh in the same period last year.

The US remained the largest LNG supplier to Greece with a 45.57 percent share of all LNG imports in the quarter, DESFA said.

Algeria supplied 1.48 TWh of LNG to Greece in the quarter, followed by Nigeria with 1.20 TWh, Egypt with 1.08 TWh, and Oman with 1.03 TWh. About 0.11 TWh also came from Indonesia.

Qatar, a regular supplier to Greece, did not deliver any LNG cargoes during the January-March period, according to DESFA.

The company said that 43.23 percent of all imported gas to Greece in the quarter, including pipeline gas, came via the Revithoussa terminal.

Total gas imports amounted to 21.33 TWh, showing an increase of 11.33 percent from 19.16 TWh in the first quarter of 2021, it said.

LNG imports to continue to rise

LNG deliveries to Greece are expected to significantly rise in the future as Europe looks to reduce its reliance on Russian gas supplies.

The European Union sees Greece as an important hub for ensuring energy security in southeastern Europe.

DESFA, owned by a consortium led by Italy’s Snam, recently revealed plans to boost storage capacity at the Revithoussa facility.

The company is also a shareholder in Greece’s LNG terminal developer, Gastrade.

Earlier this year, Gastrade’s shareholders DESFA, Copelouzou, DEPA, GasLog, and Bulgartransgaz took a final divestment decision on the first FSRU-based import project in Greece.

Gastrade is also planning to install a second FSRU offshore Alexandroupolis, while Dioriga Gas, a unit of Motor Oil, is looking to develop another FSRU-based import project in Greece’s Gulf of Corinth.

In addition, Greece’s Mediterranean Gas, the developer of an FSRU-based import project which includes ExxonMobil, has also received approval for its planned development in the port of Volos.

Elpedison, a power firm owned by Greece’s Hellenic Petroleum and Italy’s Edison, revealed plans to install an FSRU off Thessaloniki as well.

Should all these projects materialize, Greece would have five FSRUs and the onshore Revithoussa facility.

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