Starting this year, DESFA is holding auctions for the commitment of capacity at the Liquefied Natural Gas station of Revythoussa for a period of 15 years, instead of 5 years which was the limit until now.

In this way, as officials of the Operator stated at a related event, users of the station who are large consumers (e.g. gas supply companies, power producers) can respectively conclude longer-term gas supply agreements with producers, thus achieving better prices . Users of the station are also, especially in recent years, following Russia’s invasion of Ukraine, businesses from neighboring countries that have sought gas supplies through Greece in order to improve security of supply and/or replace the quantities of Russian gas that have left the market.

DESFA officials estimate that the demand for gas through Greece in SE Europe will remain at high levels in the coming years, as the countries of the region are not going to return to the status of dependence on one supplier that was the case in many cases before the war.

The auctions will be held annually. They will start next week for 2024 and are expected to be completed early in the new year. However, for 2024 (but also for 2025-2026) most of the station’s capacity has already been reserved, in the context of the five-year horizon auctions held in previous years.