Greece is developing into a major exporter of natural gas with roughly one in three shipments that reach the country relayed to other countries, well over last year’s level of 9.8 percent.
Russia’s war on Ukraine has increased the geostrategic importance of Europe’s south, including Greece, in terms of gas transportation, supply routes from the continent’s south to north now dominant, a reversal of the flow in previous decades.
LNG shipments to Greece supply a large number of landlocked European countries, all the way north to Ukraine. As a result, Greece’s gas exports have skyrocketed in 2022.
In the first eleven months this year, the country’s gas exports reached 26 TWh, more than triple the level recorded for all of 2021, when the year’s gas exports totaled 7.6 TWh.
Greece’s gas exports are expected to rise even more in 2023 as a result of last October’s launch of the IGB pipeline running from Greece to Bulgaria.
Technical solutions are now being sought so that gas exports can also be made via the IGB pipeline as soon as the Alexandroupoli FSRU, a project led by Gastrade, is launched in late 2023. The Alexandroupoli LNG terminal’s arrival will further boost Greece’s capacity to export gas.