A considerably heightened interest for LNG imports, prompted by lower prices, has generated congestion concerns at gas grid operator DESFA’s Revythoussa terminal on the islet just off Athens.
Importers need to declare their LNG orders for 2020 by tomorrow, following a deadline extension of a few days.
The terminal slots to be requested by importers could exceed the LNG facility’s total capacity.
RAE, the Regulatory Authority for Energy, acting on a request made by DESFA, recently sharply increased a penalty rate for unfulfilled terminal capacity reservations, as has often been the case in the past.
The resulting cost for importers not following up on LNG capacity reservations with actual usage has been increased from 50,000 to 200,000 euros per day.
Some market officials preferring milder rules have requested the staging of auctions as a means of filling slots left vacant and imposing penalties on importers only if the auctions have failed to fill these capacity gaps.