The CEO of the corporate, Konstantinos Xifaras, spoke concerning the challenges within the worldwide and home pure gasoline market, in addition to the main position of DEPA Emporia within the new vitality panorama, within the context of the 5u energypress’s Energy & Gasoline Discussion board.
Referring to the evolution of pure gasoline costs over the past yr, the CEO of DEPA famous that they’re step by step returning to their historic ranges, which mirror the basics of provide and demand, after overcoming the double shock within the worldwide markets, initially of pandemic after which the warfare in Ukraine.
He additionally expressed his evaluation that costs will proceed to maneuver at very aggressive ranges for our time.
In response to a query about how DEPA manages the restriction of pure gasoline demand noticed within the earlier two years, Mr. Xifaras defined that “this decline was anticipated after the sharp enhance in costs, a consequence of the warfare, however it’s already exhibiting indicators of slowing down – the decline in home consumption in 2023 was restricted to 10.3% in 2023, in comparison with over 19% in 2022. In some sectors, in actual fact, corresponding to business and energy technology, we had a rise in consumption…
The rationale for this slowdown is that, as costs have de-escalated, pure gasoline has develop into aggressive once more, particularly for business and huge customers, but additionally for drivers and households, in transport and residential heating respectively.”
And he added that: “The significance of pure gasoline as a transitional gasoline is just not doubtful, it’s going to proceed to play a crucial position within the path in direction of the decarbonisation of our vitality techniques, as it’s a mandatory complement to Renewable Vitality Sources, whereas in Greece it additionally covers a major a part of the hole in electrical energy technology that created by de-lignitization”.
Mr. Xifaras additionally emphasised the lasting strengthening enterprise extroversion of DEPA, with the consequence that it has double the portions it exports current years. The corporate, famous Mr. Xiafaras, is already current within the markets of Bulgaria, Italy, Hungary, Ukraine, Romania, Serbia and Moldova. On the identical time, it’s registered and trades important portions of pure gasoline on key inventory exchanges within the area, corresponding to Italy’s GME, Hungary’s CEEGEX and Bulgaria’s Balkan Gasoline Hub.
Concerning DEPA’s main position within the vitality transition, Mr. Xifaras referred extensively to the group’s participation in a collection of main worldwide initiatives which protect the nation’s vitality safety and contribute to its transformation into an vitality hub within the wider area of SE Europe, such because the IGB pipeline which is already in full operation, and the FSRU Alexandroupolis which started piloting this month:
“These infrastructures, with the assistance and reactivation of the pipeline Trans Balkan Pipeline, will kind the spine of the Vertical Hall, transporting pure gasoline from South to North with the good thing about the whole wider area. Whereas they don’t have an expiration date since they will even have the ability to settle for “renewable” fuels, corresponding to biomethane and hydrogen.”
On the identical time, DEPA is dynamically getting into the ability technology, collaborating in new electrical energy and warmth cogeneration unit being developed in Alexandroupolis, with a capability of 840 MW, which can be fueled by pure gasoline (and, later, inexperienced fuels) and might substitute three polluting lignite models. As additionally in first thermal energy plant in Albania with a capability of 174 MW, which the corporate will equipped with pure gasolineas a part of a long-term settlement.
As well as, the corporate consolidates additional its place within the home retail vitality market, by way of its subsidiary Pure gasoline Hellenic Vitality Firm, which in 2023 provided on common the decrease costs out there and the identical continues within the new yr.
Lastly, Mr. Xifaras responded to the stories that need DEPA to lastly enchantment to Arbitration for its industrial dispute with Gazprom, clarifying how the DEPA has absolutely documented its positions and that:
“Our intention is to resolve the difficulty bilaterally and on this route we’ll exhaust each risk. Within the occasion, nonetheless, that this isn’t attainable, we’ll use each authorized means at our disposal, with the intention to defend the pursuits of the corporate and Greek customers.”
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