The highest monthly gas consumption since March 2022 (6.94 TWh) was noted in November (6.7 TWh). The largest year-on-year increase in November came from gas use in electricity (+2.23 TWh). LNG (from Agia Triada and Amphitriti) increased in November compared to previous months. Cumulatively, in the eleven-month period, gas increased by 28.3%, while Russian gas remained the first source of imports with a 52.1% share. Greece is lagging behind in the voluntary reduction target, being the only country that has increased gas consumption (+14.2%).
The month of November
According to the latest available data from DESFA, in November 2024 total domestic gas consumption reached almost 7 TWh (6.7 TWh), reaching a six-year high for the month of November.
In terms of uses, the largest increase in absolute terms compared to November last year came from electricity (+2.23 TWh or +96.6%). In fact, this is the largest monthly increase comparing the months of 2024 with those of 2023. The increase in absolute terms was smaller in industry (+0.41 TWh or +89.3%), almost equal to the increase in networks (+0.39 TWh +42.6%), which in turn recorded the highest use in six years for the month of November.
Cumulative performance in the first eleven months of 2024
Cumulatively, for the first eleven months of 2024 gas consumption was 59.07 TWh, marking an increase compared to the same eleven months of 2023 (+13.03 TWh or +28.3%).
In terms of end uses, there is an increase in all three uses comparing the eleven months of 2024 with the corresponding period of 2023. The largest percentage increase was recorded in industry (+80.5% or +3.72 TWh), however in absolute terms the largest increase was recorded in electricity with 9.1 TWh more in the 11 months of 2024 compared to the same period in 2023. A miniscule increase was recorded in distribution networks (+2.6% or +0.25 TWh).
This picture changes when comparing the 11 months of 2024 with the five-year average. The largest percentage increase compared to the five-year average was in industry (+33% or +2.07 TWh), followed by electricity (+10.1% or +3.73 TWh). In contrast, there was a decrease in distribution networks (-3.6% or -0.37 TWh).
Consumption in 2024
Gas consumption in November (6.7 TWh) was the highest monthly consumption in 2024 and increased by 82.3% (+3.02 TWh) compared to November 2023 (3.67 TWh). In fact, it was the highest monthly consumption since March 2022 (6.94 TWh).
Looking at the breakdown of gas consumption by end uses in the first eleven months of 2024, electricity had the largest share with 40.83 TWh (or 69.1%), an amount almost equal to the same period in 2023 (69%).
The share of distribution networks decreased from 21% (or 9.65 TWh) in the first eleven months of 2023 to 16.8% (or 9.9 TWh) during the same period this year. This redistribution was the result of a large increase in the share of industry which rose from 10% (or 4.62 TWh) in the first eleven months of 2023 to 14.1% (or 8.34 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 eight months of the new voluntary reduction period (April-November 2024), the country did not decrease its gas consumption compared to the reference period, but instead increased it by 17.3%. In particular, consumption (42.86 TWh) was 11.8 TWh higher than the voluntary target (31.07 TWh), while it exceeded the average of the reference period (36.55 TWh) by 6.3 TWh.
Comparing Greece’s performance with the other EU-27 Member States for the first five months of the new voluntary reduction period (April-October 2024)1, Greece increased its consumption by 14.2% compared to the reference period2 of the voluntary reduction target. This performance places Greece last compared to the rest of the EU. It is actually the only country that has increased its gas consumption. The EU-27 ranked 16th (-18.8%), meeting its voluntary gas consumption reduction target (-15%).
Imports in 2024
November
Total imports in November were 7 TWh, while exports from the IGB (Interconnector Greece-Bulgaria) started to be recorded with the exit point at Komotini (0.28 TWh in November).
The first source of imports for the month of November was LNG with 3.11 TWh (44.3% share). There are two LNG gateways into the country: one is the flow from the Agia Triada gate (2.23 TWh), with a 31.8% share, which increased by 58.8% compared to November 2023. In fact, it was the second highest of the year, after January (3.13 TWh)
The other is the new Alexandroupoli FSRU station, with an entry point at Amphitriti, which entered commercial operation in October. Imports from this gateway in the second month of operation were 0.88 TWh.
In parallel with the increase in liquefied natural gas (LNG) flows, the share of Russian gas from Turkstream decreased in November. In particular, for this month Russian gas imports via pipeline were 2.88 TWh. The monthly share (41.1%) appeared to have decreased compared to October 2024 and was in fact the second lowest since January 2024. Nevertheless, there was an increase of 87.4% compared to November last year.
In third place was Azeri gas from TAP via Nea Mesimvria with a share of 14.6% (1.02 TWh), almost double (+93%) compared to November 2023 (0.53 TWh).
Imports at the fourth gateway, Kipoi from Turkey, have been zero for the 11th consecutive month, since the beginning of the year.
January – November
Cumulatively, for the first eleven months of 2024, total imports from Greece’s entry points were 59.63 TWh, up 21.5% compared to the same period of 2023. Imports through the Sidirokastro gate are consistently the first source of supply in Greece, with 31.1 TWh and a share 52.1%. The corresponding share in the first eleven months of 2023 was only 25.9%.
LNG imports via the Agia Triada gateway were second with 15.55 TWh and a share of 26.1%, marking a large decrease (-43.3%) compared to the first eleven months of 2023. Cumulatively with imports from the Amphitriti3 gate (1.76 TWh), total LNG imports in the first eleven months of 2024 were 17.31 TWh (30.1% share).
Azeri gas imports through TAP remained in third place with 11.2 TWh and a share of 18.8%, up 63.4% compared to the first eleven months of 2023.
Finally, there were zero gas exports through the Sidirokastro gate for the 15th 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 eleven months of 2024, Russian gas with 7 TWh in total reached at least4 56.9% of total gas imports in Greece. This high share is mainly due to Russian pipeline gas imports, as Russian LNG imports were zero for most months of 2024, with the exception of the first two months (January-February) 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 data for the comparison have been taken from Eurostat, where the most recent data available are for the month of October.
- This period is the average of the April-October intervals from 2017 to 2021.
- The FSRU Alexandroupolis started its commercial operation in October 2024, but gas imports are now appearing in DESFA’s reports since the last two days of March. Therefore, the analysis includes all imports from the Amfitriti gate.
- Actual imports are likely to be higher as they do not include possible imports of Russian LNG in November 2024.
