Private Greek industrial group Mytilineos has overtaken incumbent DEPA to become the country’s biggest LNG importer this year, the first time in history that an independent company has knocked the state-owned company from the top spot, ICIS an information platform on petrochemicals and specifically on energy issues, fertilizers and other commodities said in a report. Mytilineos imported over 370,000 tons of LNG from January to July, or 39% of the national total supplies, according to LNG Edge. DEPA took 273,000 tonnes, or 29%.Access to low gas prices also strengthens Greece’s hand as an energy hub, and creates investment opportunities for companies prepared to take the risk.
The first physical reverse flows from Greece to Bulgaria took place in May. The IGB pipeline across the same border will further strengthen flows when it comes online in 2020, the same year first gas is expected via the TAP section of the Southern Gas Corridor bringing Azeri gas to Europe.