The energy market is on alert after Gazprom cut off supplies

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Institutions and companies in the field of energy are on alert, after the information that from today until June 27 the gas flows from the Russian Gazprom to Greece will be stopped.

Information from the energy market states that the outage is not sudden but there was prior information and time to ensure the supply of liquefied natural gas to the country from the facilities of Revythousa.

However, given that Gazprom has recently reduced its flow or cut off all supplies to European countries following the invasion of Ukraine, it is a matter of reasonable concern. It is well known, after all, that the scenarios that have been put on the table since the beginning of the crisis include the possibility of a complete cessation of the flow of Russian gas.

According to the information from competent sources, the weekly interruption that starts today (Tuesday 22/6), is due to the annual scheduled maintenance of Turk Stream and is not expected to affect the security of supply of the country. The same sources state that the supply of the country will continue through the rest of the pipeline gas contracts (mainly through the TAP pipeline) and with liquefied natural gas from Revythousa where care has been taken to have high reserves.

In addition, the country’s defense lines that can replace electricity production from natural gas, include maximizing the participation of PPC lignite plants and the use of diesel oil instead of natural gas in power plants, power 1.7 gigawatts that can operate with alternative fuel.

Besides, next month the new floating liquefied natural gas is expected in Revythousa, which increases the storage capacity of the station, to more than 380,000 cubic meters (from the current 225,000). The addition of the tank also increases the flexibility of the LNG supply chain.

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