Fears of a Russian military invasion of Ukraine and an economic dispute with Moscow have led to a series of meetings in European capitals on gas supplies.
The German correspondent of Handelsblatt in Athens, Gerd Heller, points out that “Greece supplies 40 to 45% of its natural gas from the Russian state company Gazprom. The rest comes via Turkey from Azerbaijan and as liquefied natural gas (LNG) from Algeria, Qatar and the US. DEPA signed a new supply contract with Gazprom for the years 2022 to 2026 in early January. Now it remains to be seen what these signatures are worth. “
The author, referring to the ominous scenarios regarding the supply of Europe with natural gas, comments: “The good news for Greece is the following: A cessation of the flow of pipelines carrying Russian natural gas to Europe via Ukraine will hardly affect country, because Gazprom supplies it through pipelines that cross Turkey and Bulgaria. In case of interruption, experts estimate that Greece could compensate for about half of the losses with additional imports from Azerbaijan. The tanks of the Revythousa gas terminal near Athens are fuller than in the period so far. Nine tankers arrived there in January, while another seven cargoes are expected by the end of February. However, it is not clear how much liquefied natural gas can be bought on the world market in the event of a crisis – and at what price.
DW / Chryssa Vachtsevanou
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