Of Thanks to Floudopoulos
In the wake of developments with the Russian ultimatum to repay Moscow’s gas exports in rubles, the price of fuel has come under new upward pressure.
It is characteristic that last Friday the price of TTF was up to 133 euros / MWh to then fall to 112 euros / MWh.
And of course the upward trajectory of gas has not left unaffected the electricity markets, which are moving again at high levels across Europe.
It is characteristic that for today a new historical record is recorded in the French market with 551 euros / MWh, while high prices are also recorded in Switzerland (349 euros / MWh), Italy (348 euros / MWh) and Greece (334 euros / MWh).
It is recalled that on April 20, the deadline for payment of the installment of DEPA Commerce to the Russian Gazprom expires within the framework of the long-term supply contract of the two companies with a duration of 5 years.
According to the notice sent by Gazprom to its Greek customers, two accounts must be opened in Gazprombank, where the payments in euros will be deposited and then converted into rubles in order to make payments to the Russian company. .
DEPA supplies about 2 billion cubic meters per year, a quantity that corresponds to approximately 36 to 40% of the total imports of natural gas.
According to a decree signed last week by Russian President Vladimir Putin, payment for Russian gas exports to “unfriendly” countries will be made in rubles instead of euros or dollars.
Otherwise, Russia will cut off gas supplies. It is noted that in addition to DEPA, Russian natural gas is also supplied to the Greek market by Mytilineos and the Kopelouzos group.
Finally, if the Russian threat to cut off gas supplies materializes, then the domestic energy system will be under pressure and the alternative emergency plan will have to be activated, which envisages an increase in imports of liquefied natural gas (LNG). production of PPC lignite units, conversion of 5 gas units that have this capacity to use oil as well as utilization of hydroelectric units.
Source: Capital
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