A motorist refuels at a gas station. Officials say Greece’s energy supply remains secure despite Middle East tensions.
Greece currently faces no immediate risk to its energy supply despite the ongoing crisis in the Middle East, according to information emerging from a high-level meeting held at the Ministry of Environment and Energy.
However, officials warn that the duration of the conflict will be the key factor determining whether the situation could eventually affect energy costs and the broader Greek economy.
The issue was examined during a wide-ranging meeting chaired by Environment and Energy Minister Stavros Papastavrou and Deputy Minister Nikos Tsafos, with the participation of representatives from energy regulators as well as companies operating in the oil, natural gas and electricity sectors.
Energy supply remains secure
For the time being, Greece’s energy supply remains stable as the country’s primary sources of procurement have not been affected by the developments in the region. Power generation capacity is fully available, including renewable energy sources and thermal units.
Favorable weather conditions have also helped keep electricity demand relatively low, easing pressure on the energy system.
Officials noted that renewable energy production – particularly from wind and solar – is currently operating at high levels. Hydroelectric reservoirs are also reported to be full, while lignite units that remain in operation are available to contribute to electricity generation if required. Authorities are also examining the possibility of extending the participation of these lignite units in the electricity market until the autumn.
Environment and Energy Minister Stavros Papastavrou (right) during the meeting with energy sector representatives to assess the impact of the Middle East crisis on Greece’s energy market.
Potential natural gas cost pressures
While supply security is not currently at risk, the situation could evolve if the crisis in the Middle East becomes prolonged.
In particular, officials indicated that Greece could face higher procurement costs for natural gas if countries currently supplied by Qatar begin seeking alternative sources, especially liquefied natural gas from the United States — a key supplier for Greece as well.
Such shifts in global demand could tighten LNG markets and push prices upward over the medium to long term.
Security measures for energy infrastructure
Authorities have also implemented increased security measures to safeguard critical infrastructure, including enhanced protections and strengthened cybersecurity systems across the energy sector.
Officials continue to monitor developments closely as the situation in the Middle East evolves, with the duration of the crisis expected to determine the extent of its potential economic and energy market impacts.
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