Gas demand up sharply in 2016, power production a key factor

Natural gas consumption in Greece increased to 3.84 billion cubic meters in 2016, boosted primarily by a substantial 53.9 percent in natural gas required at the country’s electricity production units during the year.

In energy terms, 43.143 billion MWh was traded in 2016, compared to 32.998 billion MWh in 2015, a 30.74 percent increase.

The biggest increase, in energy terms, was attributed to the increased contribution of LNG, representing 19.35 percent of the mix in 2016, from 18.38 percent in 2015.

As for other consumption sub-categories, major-scale industry recorded an overall gas consumption reduction of 6.2 percent.

Despite the gas network’s expansion, industry, household and small business gas consumption was negatively impacted by the ongoing recession and its resulting contraction of disposable income, figures showed.

On the contrary, gas demand linked to electricity production increased as a result of the drop in oil prices, prompting a natural gas price decrease, especially in the first half of 2016. A sharp natural gas demand increase for electricity production was also experienced during the second half of the year, especially in December, as a result of the energy crisis.