Interest in the upcoming annual auction for slots at the Revythoussa LNG terminal is expected to be low, primarily due to the influx of cheaper Russian pipeline gas. This increase in supply, coupled with European storage facilities nearing the European Commission’s energy security targets ahead of winter, has dampened enthusiasm for long-term commitments.
The auction, organized by the Greek gas transmission system operator DESFA, will offer slots for the years 2025 to 2039. However, participation is anticipated to be minimal due to the perceived risks associated with long-term slot commitments. Currently, only one slot for 2026 remains available, as most were secured during last year’s auction. For 2027, 21 out of 23 slots have already been reserved, and for 2028, 30 out of 44 slots have been booked. Interest for 2029 appears weaker, with only 27 out of 44 slots reserved, indicating a general reluctance among market players to commit for the long term.
From January to September this year, the Revythoussa terminal received just 17 LNG tankers from four different countries, delivering a total of 12.34 TWh of gas. The majority of this supply, 8.02 TWh (or 65%), came from the United States, while Russian LNG accounted for 6.27 TWh, representing a significant 54% decrease compared to the same period last year. Smaller quantities were imported from Norway (0.98 TWh) and Algeria (0.48 TWh).
