Gas exports to lead to drop in Greek consumer prices

Gas exports to lead to drop in Greek consumer prices

Greece will enjoy lower natural gas bills in the coming years as the country turns into a transit hub for natural gas in Southeastern Europe, Maria Rita Galli, CEO of gas grid operator DESFA, told reporters.

She attributed this forecast to an increase in the use of the system for natural gas exports to the Balkans and said that preliminary requests for the use of the Greek grid exceed the consumption volume not only of Greece but of the whole of Southeastern Europe.

Galli said that the average price per megawatt-hour in 2022 was 1.78 euros, which rose to €2.1 in 2023 but was expected to fall to €1.9 in 2024, €1.77 in 2025, €1.73 in 2026 and €1.89 in 2027.

The first (non-binding) phase of a market test conducted recently by DESFA offered some clear evidence of the potential level of use of the Greek grid by companies interested in exporting natural gas through Greece to the Balkans.

The test saw the participation of 27 companies, of which 45% are based in the EU (37% in Greece) and the rest in third countries.

A binding phase of the market test will be conducted by the end of 2023 or early 2024.

Galli said DESFA has started a survey on supply safety for next winter and noted the improved position on last year as natural gas deposits in Europe are full.

She noted that prices will depend on temperatures.

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