Greece

Energy Markets

Oil & Gas

Natural Gas

Moldova to buy US-origin LNG from Greece for consumers

Moldova's domestic gas provider Energocom stated it will supply its consumers with test volumes of U.S.origin liquefied gas (LNG) for the very first time on Monday and Tuesday. Moldova relied practically solely on Russian gas under an offer with statecontrolled Gazprom but stepped up diversity efforts following Moscow's fullscale invasion of neighbouring Ukraine 2 years back. Energocom said in a declaration that it will buy LNG from the Alexandroupolis floating terminal in cooperation with Greek state-controlled business DEPA Commercial. On Monday and Tuesday, we will acquire 14,000 MWh of gas each day at the port of Alexandroupolis. There are about...

Oil & Gas

Greek ship assaulted in Red Sea by Houthis gets here in Aden with cargo

The Greekflagged bulker Sea Champ got here in the southern Yemeni port of Aden on Tuesday after being attacked in the Red Sea in what appeared to have been an incorrect missile strike by the Houthi militia, sources said. Delivering risks are intensifying due to repeated drone and missile strikes in the Red Sea and Bab al-Mandab Strait by the Iran-aligned Houthis considering that November. U.S. and British forces have actually reacted with a number of attacks on Houthi centers but have actually so far stopped working to halt the attacks. The Sea Champion, which was taking grain from Argentina...

Fossil Fuels

Electric Utilities

Greece's PPC resumes dividend payment after ten years

Greece's biggest electrical energy power utility pay per click swung to profit in 2015 and will resume dividend payments after a decade, it stated on Tuesday. PAY PER CLICK, which operates the nation's primary power grid, stated net profit stood at 485 million euros ($ 526.37 million) in 2023, compared to a loss of 9 million in 2022, helped by the acquisition of Italian electricity manufacturer Enel's properties in Romania in 2015 and distribution organization. The energy cut a load of past due bills, the tradition of a. decade-long financial obligation crisis in Greece, and has actually overhauled. operations. It...

Fossil Fuels

Greece's DEPA declare arbitration over prices in Gazprom deal

Greek gas supplier DEPA Commercial has actually filed for arbitration to look for a price revision on its gas supply agreement with Gazprom, DEPA CEO Constantinos Xifaras stated on Thursday. The Greek state-controlled business is looking for a retroactive lowering of the gas rate in the contract checked in 2022, as well as relief from future payments worth numerous millions of dollars, according to numerous sources with knowledge of the matter. Asked about talks with Gazprom at the Power and Gas Forum in Athens, Xifaras said: We have actually remained in settlements ... for about 2 years, one-and-a-half years, on...

Crude Oil

Greece extends marine advisory to deter Russian oil ship-to-ship transfers

The Greek navy on Wednesday extended an advisory successfully prohibiting ship traffic off its coastline in the southeastern Peloponnese that two sources stated was focused on discouraging shiptoship transfers of Russian oil off Greece. Greece in a rare move over the previous weeks has released two NAVTEX notifications for military workouts in the Laconian Gulf location prompting merchant and other vessels to avoid the area. One of them was released on May 1. It was at first ending on May 9 however was extended today, stated a defence ministry authorities who declined to be called. Following Russia's invasion of Ukraine,...

Environment

Climate Change

Climate Change

Greece needs to boost flood defences and reduce water-guzzling crops, specialists state

Greece needs to make area for river flow and increase defences in the Thessaly plain, a key breadbasket, to avoid a repeat of in 2015's ravaging floods, specialists have actually advised the federal government. The Mediterranean country has been buffeted by floods and wildfires over the last few years, raising issues about its ability to resist climate change-related weather condition events. In September, Storm Daniel dumped record rains, which burst rivers and flooded 10s of thousands of acres in the central area of Thessaly, which represents 25% of Greece's. agricultural produce and 5% of GDP. Dutch-based agricultural company HVA, hired...