Ongoing discussions between the Greek gas utility DEPA and US energy exporter Cheniere are now focused on the establishment of a long-term LNG supply agreement. The possibility of any spot market order, on a trial basis, has faded, if not been ruled out.
In recent times, DEPA has considered proceeding with a spot market order as an additional measure to cover peak energy demand either in the winter or summer.
A final decision by Greek authorities on American LNG orders will now most probably be shifted for some time in 2019 as the international energy market’s current volatility, fueled by the current US-China trade war, is impacting prices and the flow of trade.
Rising oil prices, influencing natural gas price levels, have also helped steer DEPA’s interest towards the establishment of a long-term gas supply deal with Cheniere, which would ensure price stability amid the overall volatility.