POST Online Media Lite Edition


Greece is discussing additional LNG supply from Algeria

Staff writer |
Greece is discussing additional liquefied natural gas supply from Algeria to cover shortages and help neighbors if a dispute between Russia and Ukraine disrupts deliveries.

Article continues below

DEPA SA may have to pay $150 million to $200 million to secure extra cargoes for December and January, the peak months of winter demand, George Spanoudis, the state-run gas supplier’s chairman, said in an interview in Londoset shortfalls under the existing contracts with Turkey and Algeria that meet the rest of demand, he said.

Russia, Ukraine and the European Union will meet Oct. 21 to discuss a resolution to a price and debt dispute that saw Gazprom halt supplies to Ukraine in June. While Greece lost as much as two-thirds of its gas supply when flows via Ukraine were cut in a similar conflict during freezing weather in January 2009, it was able to buy LNG to limit the effects of the shortfall and supply neighboring Bulgaria, according to the Oxford Institute of Energy Studies.

“We are preparing for a short crisis, hoping that the crisis will not take place,” Spanoudis said October 10. “The Algerian contract can be extended through discussions we are having as well, to supply extra vessels of LNG" reports Kathimerini.

What to read next

Greece will start licensing for natural gas and oil
Algeria posts trade deficit
Algeria attracts $3.1bn in FDI in six months