Investments in new natural gas infrastructure are urgently needed in Greece if energy crises such as last winter’s are to be countered, according to the International Energy Agency’s latest in-depth review of Greece’s energy policies.
Natural gas companies have capacity to broaden their customer bases but a greater build up of consumers at the existing networks should represent the first step, the IEA report noted, adding this will serve as a platform for network expansion into new areas.
On gas imports, the IEA report commented that steady domestic demand can be sufficiently covered until 2021, when two long-term supply agreements signed by Greece and suppliers are due to expire.
As for natural gas prices, households in Greece paid 100 dollars per MWh for gas supply in 2016, the second-highest level recorded among all IEA members, the report pointed out.
Natural gas prices for the industrial sector were 28 dollars per MWWh last year, close to the average level for IEA members, IEA noted.
Greek infrastructure does not meet high standards, the report noted, adding that the system’s capacity remains tight, especially during periods of peak demand in the winter.