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This analysis is based on DESFA’s historical data on Validated Daily Natural Gas Deliveries / Off-takes up to October 2025 and, for November 2025 – October 2026, on Natural Gas Allocation Data from DESFA’s New Commercial Information System. It also uses the latest published monthly Eurostat data on the value of gas imports and exports (August 2026).
Consumption
October
Despite the continued increase in fossil gas procurement prices (TTF), domestic consumption in October 2026 (4.86 TWh) rebounded from the annual low recorded in the previous month (4.35 TWh). It was also higher than consumption levels recorded in October 2023 and 2024 (4.31 TWh and 4.73 TWh, respectively). However, it remained significantly lower (-14.1%) compared to the same month in 2025.
The power generation sector, with monthly consumption of 3.8 TWh, increased its fossil gas use by 15.5% compared to September, bringing its share of total monthly consumption to 78.6%. Nevertheless, consumption was slightly lower (-4.7%) compared to the same month in 2025.
The industrial sector recorded the steepest decline in fossil gas consumption, down 78% compared to October 2025. As a result, industrial fossil gas consumption in October 2026 stood at 184.8 GWh, its lowest level since December 2022. This development was largely driven by a decline in consumption among the largest industrial consumers, which fell to their lowest levels of the year: Motor Oil’s refinery, the phosphate fertiliser industry, and the combined consumption of the three Helleniq refineries.
In contrast, consumption in distribution networks, at 856.5 GWh, increased both compared to the previous month (+28.2%) and year-on-year (+6% compared to October 2025).
First ten months of the year
Cumulatively, domestic fossil gas consumption over the first ten months of the year amounted to 54.8 TWh, down 3.8% compared to the same period in 2025. Nevertheless, this was the third-highest level ever recorded for this period of the year, following the all-time high in 2021 (57.8 TWh) and consumption in 2025 (57 TWh).
The power generation sector recorded the highest consumption, at 38.7 TWh. However, this represented a 4.3% decrease compared to the same period in 2025, placing consumption at the third-highest historical level, behind the corresponding figures for 2025 (40.5 TWh) and 2021 (39.6 TWh).
The industrial sector responded more rapidly than any other sector to the increase in fossil gas prices, reducing its consumption to 5.2 TWh over the first ten months of 2026, down 16.8% compared to the corresponding period in 2025. This development reflects the continuation of a downward trend that began in July 2026, when industrial fossil gas consumption fell below the level recorded in the corresponding month of 2025 for the first time. By contrast, during the first six months of 2026, consumption in each month was higher than in the corresponding month of the previous year.
In contrast to industry and power generation, and despite higher fossil gas prices, consumption in distribution networks reached an all-time high for the first ten months of the year, amounting to 10.8 TWh and surpassing the previous record set in 2025 (10.2 TWh) by 5.9%. This development reflects the increase in new connections.
Consumption per sector
Regarding the breakdown of domestic fossil gas consumption across the three end-use sectors during the first ten months of the year, power generation accounted for 70.7%, distribution networks for 19.8%, and industry for 9.5%.
The power generation sector saw the new gas-fired power plant in Viotia, “Agios Nikolaos II” (Aluminium IV), rank first in fossil gas consumption over the first ten months of 2026, with 5,652.4 GWh. It was followed by Megalopoli V in Arcadia, with 4,848.5 GWh, and Thermoelectric Komotini in Rodopi – the newest gas-fired power plant in the system – with consumption of 4,771.5 GWh. Agios Nikolaos II retained the top position it had also held in 2025, although its consumption declined by 8%. In contrast, Megalopoli V recorded an increase in consumption in 2026 (+5.7%), while the largest year-on-year increase compared to the first ten months of 2025 was recorded by Thermoelectric Komotini (+51.6%), reflecting the plant’s increasingly significant share of the domestic electricity market.
In the second-largest consumption sector, distribution networks, the Athens network ranked first, with consumption of 3,093.6 GWh, up 3.5% compared to the corresponding period in 2025. The Thessaloniki network recorded a higher annual increase (+4.9%), ranking second with consumption of 2,613.3 GWh. The Oinofyta network ranked third, with consumption of 1,470.5 GWh, while also recording the largest percentage increase among the sector’s major consumers (+7.8%) compared to the first ten months of 2025.
In the industrial sector, Motor Oil’s refinery recorded the highest consumption during the first ten months of 2026, at 1,516.1 GWh. However, this was down 20.8% compared to the same period in 2025, a steeper decline than the industrial sector average (-16.8%). A smaller decrease (-14%) was recorded by the second-largest industrial fossil gas consumer, the Fertilizers Industry (VIPE), with consumption of 1,230.5 GWh. The Elefsina refinery ranked third, with consumption of 999.8 GWh, while recording the steepest decline compared to 2025 among all industrial fossil gas consumers in Greece (-26.9%).
Imports – Exports
October
Total net imports[1] into the National Gas Transmission System (NGTS) – that is, imports covering domestic demand in October – amounted to 4.87 TWh. LNG maintained its leading position, with 2.41 TWh, compared to 2.07 TWh of net pipeline imports via the Sidirokastro entry point, through which Russian fossil gas enters the country[2]. The Nea Mesimvria entry point ranked third, receiving Azerbaijani fossil gas through the TAP pipeline, with net imports of 0.64 TWh. Imports of Turkish fossil gas through the Kipi entry point remained at zero, as has consistently been the case since January 2024.
In the opposite direction, fossil gas exports amounted to 1.65 TWh in October, down 5.5% compared to September. The largest share of exports was transported through the Sidirokastro entry point, which handled 1.17 TWh, representing an increase of 13.8% compared to the previous month. The Komotini entry point, via the IGB pipeline, ranked second, with exports of 0.25 TWh, marginally higher than those through Nea Mesimvria, which amounted to 0.24 TWh.
First ten months of the year
Cumulatively, net fossil gas imports during the first ten months of 2026 amounted to 54.8 TWh, recording a 3.9% decrease compared to the corresponding period in 2025.
LNG (Agia Triada and Amphitrite) ranked first, with imports of 32.5 TWh, reaching an all-time high for this period of the year. This figure represents an increase of 29.5% compared to the same period in 2025.
Pipeline imports through the Sidirokastro entry point ranked second, exceeding 17 TWh over the ten-month period, although recording a significant decline of 26% compared to 2025. The Nea Mesimvria entry point ranked third, with imports of 7.3 TWh, down 19.6% year-on-year.
Exports, by contrast, followed an upward trajectory, reaching 15.3 TWh, an increase of 166% compared to the corresponding period in 2025 (5.7 TWh). The largest share (76.9%) was transported through the Sidirokastro entry point, amounting to 11.73 TWh. The Komotini entry point (IGB) followed, with exports of 2.02 TWh, while Nea Mesimvria ranked third, with 1.51 TWh.
The economic value of fossil gas imports & exports
Based on the latest available Eurostat data (August 2026), the cumulative cost of fossil gas imports, either via pipelines or in liquefied form (LNG), as well as the value of exported volumes, is calculated for the January–August period from 2022 – the year when the previous price crisis, triggered by Russia’s war in Ukraine, peaked – to the present. The difference between the two represents the net impact to the national economy. To facilitate interpretation of the results, the average TTF price for the preceding month is also calculated for the eight-month period of each year [3].
The analysis shows that during the first eight months of 2026, the value of Greece’s fossil gas imports exceeded that of exports by nearly €2 billion (€1.96 billion). This net expenditure was the lowest in the five-year period for the same time of year, but remained at broadly similar levels to those recorded in 2023–2025, corresponding to the period of easing of the crisis associated with Russia’s war in Ukraine. Compared to 2025, net expenditure in 2026 was €176.8 million lower (-8.3%), despite the average TTF price for the preceding month being slightly higher during the first eight months of 2026 (€42.3/MWh compared to €40.8/MWh in 2025).
This saving can be attributed to two factors. First, Greece consumed less fossil gas in 2026: net imports, i.e. the volume of gas retained in the country, decreased by 2.3%, resulting in savings of approximately €47 million. Second, the bulk of fossil gas purchases in 2026 took place during months when prices were low, particularly in March (14.8 TWh at an average import price of €29.9/MWh). In contrast, in 2025, the largest purchases took place in January and February (22.4 TWh at €41.1/MWh and €43.3/MWh, respectively).
As a result, the average import price fell from €38.1/MWh during the first eight months of 2025 to €36.1/MWh over the same period in 2026, generating additional savings of approximately €130 million. Export volumes increased significantly between 2025 and 2026 (+57%), but this had little impact on the overall result, as exported fossil gas was sold at a lower price than the purchase price (an average export price of €31.5/MWh compared to an average import price of €36.1/MWh during the first eight months of 2026).
Read here the analyses of the previous months since the start of the EU reduction measures in August 2022.
[1] Total net imports are defined as the difference between total imports through all entry points and total exports through all exit points.
[2] This shift away from Russian fossil gas towards LNG has continued almost uninterrupted from November 2024 to the present. The exceptions were the two-month periods of April–May and September–October 2025, when Russian fossil gas imports exceeded LNG imports.
[3] Prices of the Dutch TTF futures contract for delivery in the following month, sourced from Investing.com. The price of the preceding month is used because it correlates more closely with Greece’s average import price. Accordingly, for the January–August period, the average of the December–July prices is used.
