Week 22 highlighted LNG flexibility as a key variable for Southeast Europe’s power and gas balance. Greece received 404.07 GWh of LNG, up 15.2% from the previous week. Italy’s intake reached 4,113.50 GWh, broadly stable with a 0.55% increase, while Croatia received 633.39 GWh, down 8.9% week-on-week. These figures were reported as part of the regional availability picture .
LNG availability was described as shaping differences between markets able to manage volatility and those exposed to premium pricing . In Italy, large LNG intake did not translate into lower electricity prices during the same week. The Italian market cleared at €123.58/MWh, the highest weekly average within the SEE-linked group.
The pricing outcome in Italy was linked to gas cost conditions and thermal output levels. TTF futures averaged €46.56/MWh, while Italian gas-fired generation increased by 25.3%. LNG-backed thermal generation therefore remained a high-cost balancing tool despite higher LNG inflows.
LNG inflows and power-market performance in Greece
Greece showed a different combination of LNG movement and power-market results in Week 22. LNG inflows recovered by 15.2%, while the power market stayed relatively competitive at €86.77/MWh. Greek exports also rose by 35.7%, reaching 241 GWh.
The week’s profile was attributed to more than LNG alone. The interaction of LNG flexibility with stronger renewables and higher hydro output supported the generation stack’s competitiveness. LNG provided system optionality, while renewables and hydro helped keep marginal costs lower than in markets with tighter supply conditions.
Croatia’s lower LNG deliveries alongside higher hydro output
Croatia received 633.39 GWh of LNG, reflecting an 8.9% decline week-on-week in Week 22. Over the same period, hydro output surged by 75.4%. Electricity prices fell by 5.5% to €100.94/MWh.
The relationship between LNG flows and power prices was presented as dependent on the wider power mix. A reduction in LNG deliveries does not necessarily tighten power prices if hydro or imports improve during the week. Over longer periods, Croatia’s LNG position remains strategically important due to Krk providing regional gas flexibility for Croatia and neighbouring markets.
Implications for trading, industry and system planning
LNG-linked flexibility affects multiple parts of the energy system beyond gas supply volumes. Gas-fired power plants rely on it for fuel security, while industrial buyers are exposed indirectly through electricity price formation. Storage developers also need visibility on when LNG-backed gas generation sets the evening marginal price.
Grid planners and policymakers factor this flexibility into resilience planning as coal declines and renewable penetration rises . Week 22 was characterized by Italy combining high LNG flows with high prices, Greece pairing recovering LNG inflows with competitive exports, and Croatia seeing lower LNG flows supported by hydro output.
The commercial role of LNG in Southeast Europe was described as tied to flexibility rather than guaranteed cheaper energy . In a volatile gas market, that flexibility was reported as influencing whether pricing results align with containment or move toward scarcity levels.
