NEWS

Energy subsidies to continue in May

On visit to LNG terminal, PM says government ready for additional measures to tackle crisis

Energy subsidies to continue in May

Prime Minister Kyriakos Mitsotakis visited the facilities of the liquefied natural gas (LNG) terminal on the island of Revithoussa near Athens on Tuesday, stressing that the government’s top concern is to secure Greece’s energy sufficiency and to support consumers.

“We are facing an unprecedented situation with the explosion in gas prices. This problem is imported and concerns the whole of Europe and that is why I have personally fought for a pan-European answer,” he said.

“In any case, however, the government is committed to continuing to support energy consumers through a subsidy scheme that will continue next month,” he announced, adding that in the event there is no European answer to this problem, the government will do what is necessary.

“I want all Greeks to know that the Greek government is ready to take significant additional measures to absorb as much of the increase in electricity bills as possible allowed by the budget margins,” he emphasized. 

Energy Minister Kostas Skrekas, who accompanied Mitsotakis to Revithoussa, referred to the projects that will be implemented in the upcoming period that will increase the terminal’s capacity, which will in turn increase the possibility of receiving more tankers with liquefied natural gas. 

“This gives Greece the opportunity to increase its energy independence in terms of natural gas,” Skrekas said.

For her part, Maria Rita Galli, CEO of the Hellenic Gas Transmission System Operator (DESFA), referred to the moves Greece has made regarding its energy reserves.

“Greece has made a large investment in recent years with the aim of increasing the resilience of the National Natural Gas System, through the expansion of Revithoussa in 2019, through the interconnection with the Trans Adriatic Pipeline (TAP) a few years ago,” she said.

“We are working tirelessly not only to maintain and guarantee the capacity of the terminal at 100%, but also to strengthen its capacity to accept more ships, as well as to expand its capacity to refuel and serve the needs of the market,” she added.

DESFA is considering the addition of a floating storage unit (FSU) to the Revithoussa Liquefied Natural Gas Terminal, increasing the total available storage capacity from 225,000 m3 to more than 380,000 m3.

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A general view shows the facilities of DESFA liquefied natural gas (LNG) terminal, on the islet of Revithoussa, Tuesday. [Dimitris Papamitsos/Prime Minister’s Office/Handout via Reuters]