{"id":18737,"date":"2024-12-17T11:00:41","date_gmt":"2024-12-17T09:00:41","guid":{"rendered":"https:\/\/www.depa.gr\/?p=18737"},"modified":"2026-08-05T17:21:43","modified_gmt":"2026-08-05T14:21:43","slug":"k-xifaras-at-the-5th-power-gas-forum-depa-plays-a-leading-role-in-the-national-planning-for-the-energy-transition","status":"publish","type":"post","link":"https:\/\/www.depa.gr\/en\/k-xifaras-at-the-5th-power-gas-forum-depa-plays-a-leading-role-in-the-national-planning-for-the-energy-transition\/","title":{"rendered":"K Xifaras at the 5th Power & Gas Forum – DEPA plays a leading role in the national planning for the energy transition"},"content":{"rendered":"

Athens, March 28, 2024<\/strong><\/p>\n

The challenges in the international and domestic natural gas markets, as well as DEPA Commercial’s leading role in the new energy landscape, were highlighted by the company’s CEO, Konstantinos Xifaras, during the 5th <\/strong>Power & Gas Forum organized by energypress.<\/p>\n

Referring to the evolution of natural gas prices over the past year, DEPA\u2019s CEO noted that prices are gradually returning to historical levels, reflecting the fundamentals of supply and demand after overcoming the dual shocks in global markets caused initially by the pandemic and later by the war in Ukraine.<\/strong><\/p>\n

He also expressed his assessment that prices would continue to remain highly competitive in the current era.<\/p>\n

When asked how DEPA has been managing the decline in natural gas demand observed over the past two years, Mr Xifaras explained: \u201cThis decrease was anticipated following the sharp price increases caused by the war. However, it is already showing signs of stabilisation \u2013 domestic consumption in 2023 fell by 10.3%, compared to over 19% in 2022. In certain sectors, such as industry and power generation, we even witnessed an increase in consumption\u2026<\/p>\n

The reason for this moderation is that, with the easing of prices, natural gas has regained its competitiveness, particularly for industry and large consumers, as well as for motorists and households, in transportation and domestic heating respectively.\u201d<\/p>\n

He added:<\/p>\n

\u201cThe importance of natural gas as a transitional fuel remains undisputed. It will continue to play a critical role in the decarbonization of our energy systems, as it complements renewable energy sources. In Greece, it also bridges the gap in power generation created by the phasing out of lignite.\u201d<\/em><\/p>\n

Mr. Xifaras also emphasized DEPA\u2019s ongoing efforts to boost operational extroversion<\/strong>, resulting in the doubling of its export volumes<\/strong> in recent years. He noted that the company is already active in the markets of Bulgaria, Italy, Hungary, Ukraine, Romania, Serbia, and Moldova. Furthermore, DEPA is registered and trades significant volumes of natural gas on major regional exchanges such as Italy’s GME, Hungary’s CEEGEX, and Bulgaria’s Balkan Gas Hub.<\/p>\n

Regarding DEPA’s leading role in the energy transition, Mr. Xifaras elaborated on the group\u2019s involvement in several major international projects<\/strong> that enhance the country\u2019s energy security and contribute to transforming Greece into an energy hub for Southeastern Europe. These include the IGB pipeline, already fully operational, and the Alexandroupolis FSRU<\/strong>, which began pilot operations this month:<\/p>\n

\u201cThese infrastructures, together with the reactivation of the Trans Balkan Pipeline, will form the backbone of the Vertical Corridor, transferring natural gas from south to north to benefit the entire region.<\/em> They are not limited by an expiration date, as they will be capable of accommodating renewable fuels such as biomethane and hydrogen.\u201d<\/em><\/p>\n

At the same time, DEPA is dynamically entering the power generation sector. It participates in the new 840 MW combined heat and power plant in Alexandroupolis<\/strong>, which will run on natural gas (and later green fuels) and is set to replace three polluting lignite-fired plants. The company is also involved in Albania\u2019s first thermal power plant<\/strong> with a capacity of 174 MW, which DEPA will supply with gas<\/strong> under a long-term agreement.<\/p>\n

Additionally, the company is further strengthening<\/strong> its position in the domestic retail energy market through its subsidiary, “Hellenic Gas Energy Company,” which offered the lowest average prices in the market<\/strong> in 2023 and continues to do so in the new year.<\/p>\n

Finally, Mr. Xifaras addressed reports suggesting that DEPA might resort to arbitration regarding its commercial dispute with Gazprom. He clarified that DEPA has fully substantiated its position<\/strong> and stated:<\/p>\n

\u201cOur intention is to resolve the issue bilaterally, and we will exhaust all possibilities in this direction. However, if this proves impossible, we will use every legal means available to protect the interests of the company and Greek consumers.\u201d<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Athens, March 28, 2024 The challenges in the international and domestic natural gas markets, as well as DEPA Commercial’s leading role in the new energy landscape, [\u2026]<\/span><\/p>\n","protected":false},"author":2,"featured_media":17779,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36,37],"tags":[],"class_list":["post-18737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-press-releases"],"yoast_head":"\nK Xifaras at the 5th Power & Gas Forum - DEPA plays a leading role in the national planning for the energy transition - DEPA COMMERCIAL S.M.S.A.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.depa.gr\/en\/k-xifaras-at-the-5th-power-gas-forum-depa-plays-a-leading-role-in-the-national-planning-for-the-energy-transition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"K Xifaras at the 5th Power & Gas Forum - 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