Caspian Report - Issue: 08 - Fall 2014

Evolution of Net Import Dependency 1996-2012 (% share of total imports) 11
indicated below, Greek energy security
policy in the natural gas sector
has moved from total dependence
upon a single supplier (Gazprom)
and import route (as was the case in
1995-1999) to three major suppliers
(Gazprom, BOTAS, Sonatrach) and
three different import points (Russian
Sonatrach, followed by the commissioning
of the Interconnector Turkey-Greece
in 2007. After April 2010
and especially since 2011 a fourth
source further increased the market’s
import diversification after a
private gas trader consortium (M&M
Gas), set up by two of the country’s
Secured Long-Term, Oil-Indexed Supply Contracts (2016-2044) in bcm 12
pipeline via Ukraine, ITG and preeminent industrialists (Mytiline-
Revythousa Regasification Terminal),
os & Vardinogiannis Groups), managed
from 2007. The first major step
occurred in 2000 with the launch of
major LNG imports from Algeria’s
to import LNG volumes from
the international spot or short-term
LNG market.
11.
Combined data from IEA, Greece, ibid, pp.69-70 and RAE, ibid, pp.85-86. It should be noted though
that in September 2013 DESFA decreased further its demand projection for 2020, to 5.6 bcm. See
the presentation of DESFA’s CEO George Paparsenos at ELIAMEP’s 1st Energy Seminar held in
Athens between 25-27 September 2013. Dr .George Paparsenos, Towards Privatization: The role
of Natural Gas in the Greek Energy Market, 1st ELIAMEP Energy Seminar, (Athens: 26 September
2013), p.9.
12.
IEA, Greece, ibid, p.70.
CASPIAN REPORT, FALL 2014