Wednesday, May 29, 2024
HomeOil & GasGreece already reduced gas consumption by 40%
Powered by

Greece already reduced gas consumption by 40%

Greece’s Minister of Environment and Energy, Kostas Skrekas announced that the country’s domestic natural gas consumption in September was 40 per cent less compared to last year. A good indication, following the voluntary agreement of EU Member States to reduce their gas demand in preparation for a total gas cut-off from Russia.

At the same time, Greece is also playing an important role in shaping the energy security landscape of the region. Minister Skrekas reported that last year the country exported 0.7 billion cubic metres (bcm) of natural gas, while this year it is already close to 2 bcm. This was also possible thanks to the record number of imported liquified natural gas (LNG) arriving at the terminal of Revithoussa, which as a consequence has increased its regasification capacity by 12 per cent since June.

Furthermore, while addressing the Romanian International Gas Conference (RIGC), he recalled that on 1 October the Interconnector Greece-Bulgaria will begin operations, an additional contribution to Europe’s security of supply.

“Greece has always been a pillar of stability, energy security and diversification in the region,” the Minister said. “We have completed important energy infrastructure projects while at the same time, we are proceeding with the implementation of critical infrastructure that will further strengthen the energy competitiveness of our country.”

Also, Mr Skrekas referred to the national energy strategy to accelerate the green transition, pointing out that renewable energy sources now represent 40 per cent of the country’s energy mix and are expected to reach 60 per cent in the next three years, while electricity production from renewables will approach the record level of 20 terawatt-hours (TWh) this year.

Sign up for our newsletters

    Monthly newsletter – Delivering the most important energy stories of the month selected by our Editor-in-chief
    Weekly Oil&Gas roundup - All major news about the oil and gas industry, LNG developments, the upscaling of new gases and related EU regulations arriving in your mailbox every Monday.
    Weekly Renewables&Climate roundup - All major news about investments in renewable energy sources, environment protection, green hydrogen and new innovative ways to tackle the climate crisis arriving in your mailbox every Tuesday.

    Most Popular