DEPA Commercial is planning to place extra LNG orders for March and April as a result of higher consumption levels at natural gas-fired power stations, prompted by increased electricity exports, as well as a greater level of natural gas exports to Bulgaria.
The gas company intends to import three LNG shipments in April and is also considering an additional LNG order for this month, which would be shipped in along with a 40,000-cubic meter order placed by energy company Elpedison, scheduled to arrive in just a few days, on March 13.
Should DEPA Commercial go ahead with this latter March order, it would be the gas company’s second for the month. DEPA Commercial has already placed a 73,855-cubic meter LNG order that is due to arrive tomorrow.
Natural gas-fired power stations in Greece have been operating at full capacity in recent times to cover increased electricity exports to neighboring countries, where electricity prices have exceeded those of the Greek market.
Two days ago, electricity exports reached 27.5 GWh, while electricity imports were under 6 GWh.
Additional natural gas exports to Bulgaria in recent times have also prompted the need for more LNG in Greece.
To date, four LNG orders for March, totaling 261,447 cubic meters, have been placed by three companies, DEPA Commercial, Mytilineos and Elpedison.
In general, enterprises are moving cautiously with any extra LNG orders as a result of fluctuating natural gas prices in international markets. Companies placing gas orders at current price levels could be set back millions by any sudden price dip.