A binding market test currently being staged by Greek gas transmission network operator DESFA for a capacity increase has failed to produce the desired level of interest from users as a result of unfavourable conditions, Energy Press reports.
A registration period preceded the market test so that interested parties could submit offers to the market test for capacity increases at the grid’s entry and exit points.
The binding phase of the market test began yesterday and is scheduled to end on July 12. The assessment of the offers submitted will then follow.
Market conditions are currently unfavourable for long-term commitments due to increased instability and opportunism, sources at the operator commented.
Conditions have changed drastically over the past couple of years. Two years ago, the main concern of market players was to secure transportation of natural gas from Europe’s south to the north as a result of Russia’s invasion of Ukraine, while now, low-cost Russian natural gas flooding European markets has reinstated the importance of gas flow from north to south.
DESFA and its regional counterparts are seeking clarity to decide on the development of a vertical corridor for natural gas.