Greece has back-up plan if Russia stops energy supply

GAS

Greece has alternative plans that can be implemented immediately if Russia stops natural gas supplies, Environment & Energy Minister Kostas Skrekas said at the 7th Delphi Economic Forum on Friday.

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Some of the plans include the addition of a new floating liquefied natural gas (LNG) facility at the Revythoussa terminal, off Attica, that will be completed in 6-10 weeks; Hellenic Gas Transmission System Operator (DESFA) is looking into one-year rental contracts for a ship; and Greece is looking into storing natural gas in Italy, with which the country is linked via the Trans-Adriatic Pipeline (TAP) of natural gas, he said.

The expansion of Revythoussa and the new LNG floating facility in Alexandroupolis port will allow for full independence from Russian natural gas supplies, he stressed. Although Greece is not waiting for the European Union and has subsidized energy bills to a total of 2.5 billion euros (in addition to another 800 million euros provided by Public Power Corporation, PPC), Europe still needs to take joint action, he noted.

In terms of using lignite-based electricity plants, the minister said the strategy of withdrawing them from operation has not changed. If necessary and financially viable, the Meliti and Agios Dimitrios 5 plants could remain in use as late as 2025, with other units contributing. As for the new unit Ptolemaida 5 running on lignite, if it is financially viable it could remain in operation until 2028, he explained.