Total gas consumption in Greece in October (4.73 TWh) was the second lowest monthly consumption in 2024 after April (4.2 TWh). However, industry recorded the highest gas consumption of the year (0.93 TWh). Russian gas imports by pipeline fell in October compared to multiple historic highs in the previous three months, while in September Greece imported Russian LNG again after six months. In October, FSRU Alexandroupolis started its commercial operation with a mere 0.31 TWh of imports.
The month of October
According to the latest available data from DESFA, in October 2024 total domestic gas consumption was below 5 TWh (4.73 TWh).
In terms of uses, industry recorded the highest monthly consumption of the year (0.93 TWh), as well as the largest increase in absolute terms compared to October last year (+0.25 TWh or +36.4%). This happened after five consecutive months when the largest increase came from electricity. Electricity (+0.12 TWh or +3.8%) saw a smaller increase this October compared to last year, followed by gas use in distribution networks which increased by just 0.05 TWh (+9.5%).
Cumulative performance in the first ten months of 2024
Cumulatively, gas consumption for the first ten months of 2024 was 52.38 TWh, marking an increase compared to the five-year average of 3.26 TWh (+6.6%). The increase was even larger compared to the first ten months of 2023 (+10 TWh or +23.6%).
As far as end uses are concerned, the largest percentage increase compared to the five-year average was recorded in industry (+29.4% or +1.7 TWh), followed by electricity (+6.6% ή +2.26 TWh). In contrast, there was a decrease in networks (-7.5% or -0.7 TWh).
Similarly, when comparing the first ten months of 2024 with the same period in 2023, the largest percentage increase was recorded in industry (+79.6% or +3.3 TWh), followed by electricity (+23.2% or +6.83 TWh). In contrast, there was a decrease in distribution networks (-1.6% or -0.14 TWh).
Consumption in 2024
Gas consumption in October 2024 (4.73 TWh) was the second lowest of the year after April (4.2 TWh). However, it increased by 9.8% compared to October 2023 (4.31 TWh). In all months of 2024 so far, gas consumption is higher compared to the corresponding months of 2023.
Looking at the breakdown of gas consumption by end uses in the first ten months of 2024, electricity had the largest share with 36.3 TWh (or 69.3%), an amount almost equal to the same period in 2023 (69.6%).
The share of distribution networks decreased from 20.6% (or 8.74 TWh) in the first ten months of 2023 to 16.4% (or 8.6 TWh) during the same period this year. This redistribution was the result of a large increase in the share of industry which rose by almost 5 percentage points – from 9.8% (or 4.16 TWh) in the first ten months of 2023 to 14.3% (or 7.47 TWh) in the same period of 2024.
The voluntary European target of -15%
In March 2024, the European Union issued a recommendation for Member States to continue their efforts in reducing gas consumption by 15% for the period April 2024 to March 2025, compared to the reference period from 1 April 2017 to 31 March 2022.
Therefore, considering Greece’s performance so far, it appears that for the first seven months of the new voluntary reduction period (April-October 2024), the country did not decrease its gas consumption compared to the reference period, but instead increased it by almost 15% (14.3%). In particular, consumption (36.16 TWh) was 9.27 TWh higher than the target (26.89 TWh), while it exceeded the average of the reference period (31.64 TWh) by 4.52 TWh.
Imports in 2024
October
The first source of imports in October 2024 were Russian gas imports via pipeline (2.25 TWh). They were the third highest ever on a monthly basis, after a series of highs in July-September. Consequently, the monthly share of imports from Turkstream were less than 50% (47.3%), while from March to September more than half of Greece’s gas imports came from Turkstream.
The second source of imports in October 2024 was monthly flow of LNG from the Agia Triada gate (1.31 TWh) with a share of 27.6%, increase by 51.8% compared to October 2023.
However, Agia Triada was not the only LNG entry point in Greece. In October, the new FSRU Alexandroupolis, with an entry point at Amphitriti, started its commercial operation. Imports from this gateway were 0.31 TWh, and as a result total LNG imports for the month of October were 1.62 TWh (34.1% share).
Azeri gas from TAP via Nea Mesimvria was third with a share of 18.7% (0.89 TWh), registering an increase of +86.2% compared to October 2023 (0.48 TWh).
Imports at the fourth gateway Kipoi from Turkey have been zero for the 10th consecutive month, ie. since the beginning of the year.
First 10 months
Cumulatively, for the first ten months of 2024, total gas imports from Greece’s entry points were 52.62 TWh, up 15.9% compared to the same period of 2023. Imports through the Sidirokastro gate are consistently the first source of supply in Greece, with 28.21 TWh and a share 53.6%. The corresponding share in the first ten months of 2023 was only 24.6%.
LNG imports via the Agia Triada gateway were second with 13.33 TWh and a share of 25.3%, marking a large decrease (-48.8%) compared to the first ten months of 2023. Cumulatively with imports from the Amphitriti* gate (0.88 TWh), total LNG imports in the first ten months of 2024 were 14.21 TWh (27% share).
Azeri gas imports through TAP remained in third place with 10.2 TWh and a share of 19.4%, up 60.9% compared to the first ten months of 2023.
Finally, there were zero gas exports through the Sidirokastro gate for the 14th consecutive month (since September 2023).
Russian gas imports to Greece
As far as fossil gas from Russia is concerned, there are two entry points: one from Sidirokastro through the Turkstream pipeline and a second one from the Agia Triada gateway in the form of liquefied fossil gas (LNG).
In the first ten months of 2024, Russian gas in total reached at least** 59.1% of total gas imports in the country. This high share is mainly due to Russian pipeline gas imports, as Russian LNG imports were zero for most months of 2024 (March-August), with the exception of the first two months and September when imports were tracked again.
Read here the analyses of the previous months since the start of the EU reduction measures in August 2022.
* The FSRU Alexandroupolis started its commercial operation in October 2024, but gas imports are now appearing in DESFA’s reports dating back to the last two days of March. Therefore, the analysis includes all imports from the Amphitriti gate.
** Actual imports are likely to be higher as they do not include possible imports of Russian LNG in October 2024.
