Greek energy minister requests gas back-up

Energy Minister Yiannis Maniatis has forwarded a request to the European Commission for the establishment of an emergency mechanism that would offer support to Greece and other EU member states in the event that they were affected by a natural gas supply stoppage from Russia via Ukraine.

The request comes amid Greek government concern over the development of an energy crisis as a result of the ongoing conflict in Ukraine. Should Kiev decide to retain quantities of Russian natural gas intended for Greece and other European countries, the alternatives would be limited, reliance on liquefied natural gas (LNG) essentially being the only viable option.

However, an increase in LNG demand would lead to a further price rise for this choice, already on an upward trajectory.

Increased energy costs would threaten the ongoing effort being made to revive Greece’s depressed economy. The energy minister’s request to the European Commission aims to avert such a development.

The request, delivered to Energy Commissioner Guenther Oettinger, includes a call for the availability of lower-priced LNG to EU member states from firms in possession of surplus amounts.