The Minister of Environment and Energy, Stavros Papastavrou, is assessing the country’s readiness regarding energy adequacy and supply security, particularly in electricity, fuels, and natural gas.
The war in the Middle East is putting intense pressure on energy markets, creating tight conditions in the supply of fuels and natural gas. Several countries have already decided to introduce consumption restrictions on fuels, while the European Commission is also examining similar measures for the European Union.
Papastavrou’s Meetings on Electricity, Fuels, and Natural Gas
Tomorrow, Holy Wednesday, April 8, the Minister of Environment and Energy Stavros Papastavrou, together with Deputy Minister Nikos Tsafos, are convening a series of consecutive meetings on supply security and the smooth supply of electricity to the country ahead of Easter, as well as to assess the impact of the ongoing crisis in the Middle East.
The meetings were first revealed by OT in a publication on Holy Monday, April 6, according to which the main concern of Greek authorities is the adequacy of diesel fuel and aviation fuels.
Those invited to and participating in the meetings include the Regulatory Authority for Waste, Energy and Water (RAAEY), the natural gas and electricity grid operators (DESFA, ADMIE, DEDDHE), representatives of the country’s refineries, natural gas suppliers, and electricity generation companies.
Diesel Fuel
The major problem identified in the international market concerns the adequacy of diesel and aviation fuels. The closure of the Strait of Hormuz and military strikes on refining infrastructure and LNG facilities in the Middle East have reduced the availability of quantities equivalent to 20% of oil and natural gas fuel production. As a result, countries worldwide are turning to the same remaining supply sources. Supply is limited and demand is rising ahead of the summer season, when travel increases, and amid concerns about larger shortages of fossil fuels.
However, Greece’s two refineries, HELLENiQ ENERGY and Motor Oil, which will participate in tomorrow’s meeting, are offering assurances of adequate fuel stocks through May.
Natural Gas and Electricity
During the meetings, the country’s adequacy in natural gas and electricity will also be assessed, along with the resilience of transmission and distribution networks ahead of Easter. Traditionally, electricity consumption drops sharply during Easter, resulting in a surplus of electricity generated from Renewable Energy Sources. To ensure grid stability, ADMIE and DEDDHE the two carry out load curtailments.
The meetings will also examine the natural gas supply security situation. As the latest DESFA data showed, Greece does not source LNG from Gulf countries — the majority of imports come from the United States, followed by Egypt, Nigeria, and other countries.
Based on all of the above and available information, it is clear that the Greek market and the Ministry of Environment and Energy are on high alert regarding supply security. At present, no adequacy problems are being faced, but the uncertainty surrounding the development and intensity of the war in the Middle East is creating challenges for energy security.
