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- Format
- 4 files (PDF report, 3 Excel files)
- Pages
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41 (Report only)
- Delivery
- Immediate by e-mail
- GENERAL OVERVIEW
- INSTITUTIONS AND ENERGY POLICY
- ENERGY COMPANIES
- ENERGY SUPPLY
- ENERGY PRICES
- ENERGY CONSUMPTION
- ISSUES AND PROSPECTS
- DATA TABLES
- ABBREVIATIONS
- GLOSSARY
Buy Greece energy report
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Overview
This analysis includes a comprehensive Greece energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.
Highlights
- Greece aims to cut GHG emissions by 58% in 2030 and reach net zero emissions by 2050.
- To overcome its reliance on lignite, Greece is developing renewables, which should cover 81% of its capacity in 2030.
- PPC dominates the power sector with 38% of power generation.
- Helpe accounts for 2/3 of the refining capacity.
- Italgas is the largest gas distributor.
- Renewables accounted for 47% of the power mix in 2023. Lignite is disappearing from power generation.
- Greece is fully dependent on imports for its gas and oil supplies.
- Electricity prices surged in 2021 and 2022, despite subsidy mechanisms.
- In 2023, oil and gas prices decreased compared to 2022.
- Per capita energy consumption is 34% below the EU average.
- The share of oil in total energy consumption reached 54% (2023).
- Greece plans to phase out lignite-fired power plants by 2026.
- The country is focusing on the development of gas and solar capacity (47 GW of solar under development).
Institutions & Energy Policy
The Ministry of Environment and Energy (MoEE) coordinates the energy policy and controls public companies. The General Secretariat for Energy and Mineral Resources (MoEE department) is responsible for implementing energy policy in sectors including power, oil, gas, renewables, and energy efficiency.
Energy Companies
Oil:
Since September 2022, the national oil company Hellenic Petroleum (Helpe) has been included in the Helleniq Energy Holdings (31.2% HRADF, 40.4% Paneuropean Oil and Industrial Holdings) and now focuses on downstream, while upstream operations are carried out by Helleniq Upstream Holdings.
Energy Supply
Gas:
All the natural gas consumed is imported. Natural gas imports fell by 11% to 5.7 bcm in 2022 in a context of soaring prices and dipped by 1.8%% in 2023 to 5.6 bcm. They doubled between 2014 and 2021 to 6.4 bcm. Imports from Russia via pipeline have historically accounted for most of gas imports but the share from Russia in piped gas imports dropped from 64% in 2021 to 48% in 2023.
Energy Prices
Oil:
Oil product prices were liberalised in 1992 and follow international prices: the price of gasoline increased by 14% in 2021 and 25% in 2022, and diesel prices by 16% in 2021 and 36% in 2022. In 2023, prices decreased by 7% for gasoline and 9% for diesel. Fuel prices, which used to be well below average EU prices, are now close to the EU average.
Energy Consumption
Total energy consumption per capita is 1.8 toe in 2023 (34% below the EU average), including around 4 700 kWh of electricity (13% below the EU average).
Graph: CONSUMPTION TRENDS BY ENERGY SOURCE (Mtoe)
Issues & Prospects
The coming years should see the application of the policy on the diversification of energy supplies and the penetration of natural gas.