Greece Almost Doubles LNG Imports in First Half; US Supplies Surge

Greece’s LNG imports almost doubled year on year in the first half of 2020 as cheap spot LNG – particularly from the US – displaced Russian gas imports, data from S&P Global Platts Analytics showed July 22. The Greek gas market is currently undergoing a significant shift due to the fall in spot LNG prices, which has meant LNG cargoes increasingly heading there.

Vice-president at state-owned gas importer DEPA, Kostas Andriosopoulos, said in late April that LNG was now penetrating the Greek market “at very competitive prices.” According to data from S&P Global Platts Analytics, LNG supplies to Greece reached 1.9 Bcm of regasified gas in the period, almost double the volume imported in H1 2019. If supplies were to be maintained at a similar rate through H2, Greek LNG imports could end up almost 1 Bcm higher than 2019’s total volume of 2.8 Bcm…

View entirety: S&P Global Platts