Greece's Energy Ministry on Alert Amid Middle East Tensions

The Ministry of Environment and Energy (ΥΠΕΝ) is on high alert due to energy uncertainty and pressures on the fuel and natural gas market, especially ahead of Easter. Developments in the Middle East are exacerbating imbalances in the global energy market.

According to ΥΠΕΝ, successive meetings are being held with RAAEY, infrastructure managers (ΔΕΣΦΑ, ΑΔΜΗΕ, ΔΕΔΔΗΕ), refineries, natural gas suppliers and power generation companies to assess the adequacy and readiness of the system.

Greek refineries assure that oil reserves are sufficient until May, while LNG imports mainly come from the US and other alternative sources. However, there is vigilance due to the nature of the LNG market and potential cargo re-routings.

In addition, the operation of the electricity system ahead of Easter is being examined, with the managers ΑΔΜΗΕ and ΔΕΔΔΗΕ on alert to avoid instability or power outages. In this context, targeted production cuts from RES are being made to maintain balance in the system.

Despite increased surveillance, the Greek market does not face an immediate supply problem, but the evolution of the crisis in the Middle East will determine the continuation in terms of availability and cost of energy.