Greece to upgrade only LNG terminal in preparation for energy supply disruptions

ATHENS - Greece's only liquefied natural gas (LNG) terminal on the islet of Revithoussa near Athens will be upgraded as the country is preparing its energy system for the worst-case scenario, such as a complete cessation of natural gas supplies from Russia, Greek Prime Minister Kyriakos Mitsotakis said on Tuesday.

"Liquefied natural gas is extremely critical in order to achieve the expansion of gas supply sources. In this plan, Revithoussa in its current form, but also in its upgraded form, plays a decisive role," he said during a tour of the facilities, according to Greek national broadcaster ERT.

Managed by the Hellenic Gas Transmission System Operator (DESFA), the Revithoussa terminal is currently the only one in Greece that receives, temporarily stores and regasifies LNG and supplies the country's National Natural Gas Transmission System. Its LNG storage capacity is currently 225,000 cubic meters and can regasify 1,250 cubic meters per hour, according to the DESFA.

In the coming months, the DESFA is planning to add a floating storage unit to the existing facilities, which will increase storage capacity to 380,000 cubic meters, and the regasification capacity will be increased by 12 percent, among other investment plans, company officials said.

"We are continuously working not only to maintain and guarantee 100-percent availability at the terminal, but also, as anticipated, to expand its ability to accommodate more ships and increase its ability to regasify and to serve the demand of the market," Maria Rita Galli, DESFA's chief executive officer (CEO), said.

In 2021, 31.8 percent of Greece's total natural gas imports entered the country through this facility. In the first three months of this year, the respective figure was 43.23 percent. LNG cargoes arrived from six countries (the United States, Algeria, Nigeria, Egypt, Oman and Indonesia), according to DESFA data.

For years, approximately 40 percent of Greece's annual energy needs have been covered by imported Russian natural gas, according to the Ministry of Environment and Energy.