ECONOMY

Gas shortage puts system in emergency

Natural gas transmission network operator DESFA said on Friday the country’s system is in a state of emergency due to reduced LNG reserves on the island of Revythousa, west of Athens.

Sources from the Public Gas Corporation (DEPA) stressed that domestic consumers will not face supply problems until next weekend at the earliest.

The problem has arisen due to a reduction in the gas flow from Turkey, as the neighboring country has been withholding quantities destined for Greece for the last four days to cover its own increased needs due to a prolonged cold snap. In a similar instance two years ago, DEPA resorted to arbitration, asking for Turkey to pay compensation of 20 million euros.

This comes at a time when DEPA has made no provisions for additional liquefied natural gas quantities at a time when consumption has grown in recent days to 170,000 megawatt/hours per day against a winter average of 140,000-150,000 MW/h.