Gas grid operator DESFA will today stage the first of three auctions planned until November 2 for LNG slots at its Revythoussa terminal in 2022, following a slight delay in the hope of a gas price de-escalation, to no avail.

These sessions are planned to be immediately followed by auctions – to be staged until the end of the year – for reservations of LNG slots at Revythoussa between 2023 and 2026.

DESFA, along with power grid operator IPTO, have their eyes set on the first auction series for LNG slot reservations at Revythoussa in 2022, given the extraordinary market conditions prompted by the sharp rise in natural gas prices over recent months.

According to market experts, making forecasts about the auctions concerning 2022 is next to impossible as it remains unclear if importers, especially electricity producers, managing their own gas supplies, will seek LNG slots at Revythoussa or hold back and instead opt to punt on pipeline gas.

Whatever the outcome, energy sufficiency will not be an issue as the Revythoussa terminal nowadays represents only 30 percent of total gas imports into Greece, the northern grid interconnection and TAP playing dominant roles, DESFA officials noted.