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Greek ships will carry American LNG to Europe

Greek shipping intends to play a dominant role in the supply of the European Union with liquefied natural gas (LNG) in the coming years, as about one in five ships of the global LNG transport fleet belong to Greek interests. According to the brokerage firm Poten, by January 2022 the global fleet of LNG Carriers (with a capacity of more than 100,000 cubic meters) consisted of 582 ships, while another 151 ships were under construction, of which 122 are already linked to long-term contracts. Out of the 733 LNG Carriers (in operation and under order), 156 belong to shipping companies of Greek interests which play a leading role in the global LNG trade by sea.

  • Published in World

Ukraine: The "ghost" haunting the European economy

The European and world economies are facing the risk of stagflation (stagnant inflation) due to the war in Ukraine. Big increases in the costs of energy, raw materials, goods, food and transport are creating the conditions for a new big jump in inflation at a time when sanctions and inflation are threatening the economies, which were trying to recover from the big problems caused the pandemic.

  • Published in World

Athenians pay for electricity at Copenhagen and Brussels prices

Athens has climbed to the most expensive cities in Europe in terms of retail prices of electricity and gas, according to the monthly Household Energy Prices Index (HEPI).

This is the result of a monthly survey conducted by the Austrian Energy Regulatory Authority (Energie-Control) and the Hungarian Energy and Public Regulatory Authority (MEKH), which commissioned VaasaETT to compile and publish electricity and natural gas price classifications. 33 European capitals on a monthly basis. These surveys are also the reference base of the European Commission's energy reports.

According to HEPI, which concerns December 2021, households in Athens have come to compete… in terms of high energy costs with household consumers in five other European cities, where incomes are of course much higher.

More specifically, the researchers recorded the most expensive city among 33 in Europe, Copenhagen, Denmark, where a kilowatt hour costs almost 0.40 euros. They are followed by London with 0.396 euros, Brussels with just over 0.37 euros, Berlin with 0.362 euros, then Amsterdam with almost 0.343 euros and the first very expensive six closes with the capital of Greece, where  households paid the December with 0.315 euros per kilowatt hour. These prices include taxes, while the average price of electricity for household use in the EU. of 27 was almost 0.24 euros per kilowatt hour and in the 33 cities of Europe about 0.23 euros per kilowatt hour.

It is worth noting that before the outbreak of the energy crisis, the price per kilowatt hour offered by energy providers in Greece was around 0.07 euros, along with consistency discounts. So in a period of six months electricity prices in Athens have skyrocketed by about 350% (euros per kilowatt hour).

Champions in increases

The survey also records in Athens the highest increase in kilowatt hours compared to November but also in relation to the other 32 cities in Europe. Household consumers saw electricity prices rise by 22% in one month. Residents of Stockholm (17%), Warsaw (12%), Amsterdam (11%), Nicosia (8%), Madrid (7%) and others experienced high electricity prices for the same period. K.

graph 1
The lowest electricity prices are paid by Ukraine's Kiev at 0.0546 euros per kilowatt hour, Belgrade by Serbia by 0.0811 euros, Budapest by Hungary by 0.105 euros, Podgorica by Montenegro by 0.105 euros by Kilovattora, and Kilovattora by of Sofia, Bulgaria with 0.123 euros.

According to the HEPI report, two-thirds of Europe's cities have recorded record prices. They attribute them to the economic recovery after the end of the pandemic and the explosion of energy demand due to extreme weather conditions, to record gas prices due to low reserves and unprecedented CO2 prices.

Natural gas

Athens is also in the top 10 most expensive cities, among 28 in Europe, in natural gas.

It is in the 7th highest with household consumers paying for natural gas at 0.12 euros per kilowatt hour. In December, Athenians also faced the highest price increase compared to November and compared to other households in the 27 states measured by HEPI. The price increases were of the order of 16%.

graph 2
The most expensive cities were Stockholm with 0.234 euros per kilowatt hour, Copenhagen with 0.194 euros, Amsterdam with the price of gas at almost 0.19 euros per kilowatt hour, Bern, Switzerland with 0.143 euros, Rome with 0.13 euros and Vienna with 0.125 euros.

In the cheapest cities of Europe we find with prices from 0.025 euros to 0.05 euros Kiev, Budapest, Belgrade, Bucharest, Warsaw, Bratislava, Zagreb and Riga.

The HEPI research makes a special reference to the prices in Athens: "In Athens, the successive increases in the prices of the wholesale market have led to a final user price more than double compared to 6 months ago. Although the government introduced additional subsidies to mitigate the effects in December, the bills remain high. "The government is even considering extending subsidies in 2022, based on income and property criteria."

  • Published in Greece
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