LNG shipments into Greece are headed for a quieter period following heightened recent trading activity that put this energy source at the domestic sector’s forefront in the first half of 2020, overshadowing pipeline gas supply.
Latest activity indicates a swing in favor of pipeline gas, now favorably priced.
Last November, 18 tankers docked at gas grid operator DESFA’s Revythoussa LNG terminal just off Athens, bringing in a total amount of 1.5 million cubic meters of LNG, well over the schedule for this coming November, limited to three tankers booked for a total of 355,000 cubic meters.
Activity at the Revythoussa terminal was also subdued last month. Four LNG tankers brought in a total quantity of nearly 300,000 cubic meters.
LNG prices at the Dutch gas trading platform TTF, one of Europe’s biggest hubs, have risen constantly, as is the case internationally, following a dip in July.
Analysts believe rising demand in Asia, especially China, will make up for anemic demand in Europe and push LNG prices even higher as winter approaches.
Pipeline gas supply is expected to reassert its position in Greece.