Gas supply not threatened by liquidity issue, DEPA chief says

The national economy’s current liquidity problem caused by capital controls imposed over a week ago does not pose a threat to natural gas supply in Greece, Spyros Paleogiannis, CEO at DEPA, the Public Gas Corporation, assured, speaking at an Athens energy conference today.

The DEPA chief told the conference, titled “Natural Gas Market Penetration in Greece”, demand for natural gas used in electricity production has dropped significantly.

Paleogiannis noted that DEPA is pushing forward a plan to further develop the country’s natural gas network, which will ultimately benefit Greek consumers.

All necessary action is being taken to implement the use of LNG in the shipping sector, which is why “we are developing the required infrastructure,” Paleogiannis noted.

The DEPA head also stressed it is important for Greece to possess a diverse range of natural gas sources, including Iran, which would help develop the country into an energy hub.

Paleogiannis also informed that DEPA is currently involved in negotiations with gas suppliers for reduced price levels, to benefit consumers.