Liquefied natural gas

"The first concern of the government is to ensure the energy adequacy of the country. At the same time, we are struggling to achieve the lowest possible energy prices for consumers, households and businesses ", noted the Prime Minister, Kyriakos Mitsotakis, during his visit to the facilities of the Liquefied Natural Gas (LNG) terminal on Revythousa island.

Germany has released nearly 3 billion euros ($3.2 billion) to acquire floating liquefied natural gas (LNG) import terminals, as it seeks to move away from dependence on Russian gas.

From plans for liquefied natural gas terminals in northern Germany, Finland and France to potential new routes through Spain and the Mediterranean, Europe is striving to rid itself of its dependence on Russian gas, though experts say the task will take years to complete.

Israel pledged its support to its European allies in their quest for energy security and independence through Energy Minister Karin Elharar during yesterday's ministerial meeting with Costas Skrekas and Cypriot Minister Natasa Peleidou.

This was noted by Ms. Elharar in her statements promising gas exports from the fields of the Israeli EEZ to European markets.

More than double the current imports of liquefied natural gas (LNG) will be required to meet electricity and gas consumption needs in Greece and neighboring countries if Moscow cuts off gas supplies through pipelines to our northern borders.

The energy sector has retreated markedly from its highs in the first days of March but remains a hot topic for markets.

The anxiety in the Greek market is peaking because of the attitude of Moscow and Gazprom towards the long-term natural gas supply contract of DEPA Commerce.

Algeria's state energy firm is ready to supply Europe with more gas in view of a possible decline due to the Russian invasion of Ukraine, its CEO said on Feb. 27.

Sonatrach CEO Toufik Hakkar said the firm was ready to pump additional gas to the EU from its surplus via the Transmed pipeline linking Algeria to Italy.

Bulgaria is over 90% dependent on Russian gas supplies, experts remind but reassure that a possible crisis can be overcome.

French energy giant TotalEnergies said yesterday it has rebounded from the COVID-19 crisis with a huge 2021 profit as oil and gas prices soared.

The company reported net profit of $16 billion (14 billion euros) - the highest in at least 15 years - following a historic $7.2-billion loss in 2020, when oil prices crashed.