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Markus Brokhof, Head of the Gas Supply & SEE division and Member of Executive Management of the EGL Group, says: "Besides the Greek electricity market, we are also planning to grow sustainably in the gas market over the next years. With the LNG cargo EGL has laid a first cornerstone in Greece for further successful supply of the growing Greek gas market." "EGL can provide wholesale customers such as power plant operators and industrial clients with gas products tailored to their needs - we are benefiting from our local presence in the power sector,” says George Peponis, Managing Director of EGL Hellas. Greek natural gas consumption is mainly driven by electricity generation. Greece imports most of its natural gas via its pipeline connections with Bulgaria and Turkey. In addition, Greece has been importing LNG via the Revithoussa terminal since 1999, primarily under the long-term contracts of the public gas corporation DEPA. Since 2010, Revithoussa is also open for other companies importing LNG into Greece. LNG is natural gas which is turned into liquid by cooling it to around -160°C. Its volume in this aggregated state is around 600 times lower than in the gaseous form. Large quantities of natural gas can be stored in this state and transported by ship. The reduction in volume makes LNG cost efficient to transport over long distances by specially designed LNG tankers where pipelines do not exist. At the point of use LNG is re-gasified and distributed as natural gas via pipelines. EGL press release |
EGL delivers first LNG cargo to Greece