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Greek LNG Demand Boosted by Turkstream Maintenance: Platts

LNG
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Greece is seeing an uptick in LNG demand and prices mid-May amid upcoming Turkstream pipeline maintenance and ongoing squeezed Suez Canal transits, Platts said.

  • Greece has imported 70k mt of LNG in May to date, compared to zero imported during April.
  • Despite low demand in Greece during shoulder season, there have been strong offer levels during the week. The region was primarily relying on pipeline natural gas amid uneconomical LNG rates.
  • "Power prices are high, so there is big generation from gas power plants," a trader told Platts.
  • However, Turkstream maintenance due for June could also bolster LNG demand as pipeline flows get curtailed, Platts said.
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Greece is seeing an uptick in LNG demand and prices mid-May amid upcoming Turkstream pipeline maintenance and ongoing squeezed Suez Canal transits, Platts said.

  • Greece has imported 70k mt of LNG in May to date, compared to zero imported during April.
  • Despite low demand in Greece during shoulder season, there have been strong offer levels during the week. The region was primarily relying on pipeline natural gas amid uneconomical LNG rates.
  • "Power prices are high, so there is big generation from gas power plants," a trader told Platts.
  • However, Turkstream maintenance due for June could also bolster LNG demand as pipeline flows get curtailed, Platts said.