Greece Oil and Gas Report Q3 2016

Date: June 22, 2016
Pages: 80
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)

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Includes 3 FREE quarterly updates

BMI View: The start of construction work on the Trans Adriatic Pipeline (TAP) marks a milestone for the Greek midstream sector and our outlook for its natural gas sector. We reiterate our view that natural gas, especially midstream, will be the largest growth opportunity in the Greek energy space with TAP beginning construction in June and DEPA focusing on growing the domestic gas market infrastructure. However, tax hikes on gas consumption for large industrial users will temper demand, which is presenting a downside risk to our natural gas consumption forecasts.

Latest Updates and Key Forecasts
  • Refined fuels exports from Greece will remain the country's largest export by a wide margin and will increase in 2016 by 4.3% according to our forecasts as margins for refiners remain very healthy but the domestic market depresses further, leaving more available for exports.
  • The TAP natural gas pipeline began construction in May 2016, with two consortiums one led by J&P Avax and the other by ELLAKTOR winning the EPC contracts for the Greek section of the pipeline works.
  • First shipment of privately contracted gas via the national pipeline network took place in June 2016. This marked a new phase for the retail natural gas market in Greece, which is overwhelmingly dominated by the Public Gas Corporation (DEPA). M+M reportedly imported natural gas through the border metering station at Sidirokastro, which links into the Bulgarian gas transmission network.
  • Privatisations of state energy assets are firmly (again) back on the agenda, following the passing of legislation from Parliament establishing, inter alia, a mega-privatisation fund. It will be made up of four subsidiaries: the Hellenic Republic Asset Development Fund, the Hellenic Financial Stability Fund, the newly-established Public Participations Corporation, and the Public Real Estate Corporation. ELPE, DEPA, DESFA, and PPC are all in line for divestments of the state's stakes, partial or total.
BMI Industry View
  Table: Headline Forecasts (Greece 2014-2020)
Oil & Gas SWOT
Industry Forecast
Upstream Exploration
Latest Updates
Structural Trends
Upstream Projects
  Table: Greece - Key Upstream Projects
Upstream Production - Oil
Latest Updates
Structural Trends
  Table: Energean Production Timeline
  Table: Oil Production (Greece 2014-2019)
  Table: Oil Production (Greece 2020-2025)
Upstream Production - Gas
Latest Updates
Structural Trends
  Table: Gas Production (Greece 2014-2019)
  Table: Gas Production (Greece 2020-2025)
Latest Updates
Structural Trends
  Table: Refining Capacity and Refined Products Production (Greece 2014-2019)
  Table: Refining Capacity and Refined Products Production (Greece 2020-2025)
Refined Fuels Consumption
Latest Updates
Structural Trends
  Table: Refined Products Consumption (Greece 2014-2019)
  Table: Refined Products Consumption (Greece 2020-2025)
Gas Consumption
Latest Updates
Structural Trends
  Table: List of Gas-Fired Power Plants in Greece
  Table: Gas Consumption (Greece 2014-2019)
  Table: Gas Consumption (Greece 2020-2025)
Trade - Oil
Crude Oil Trade Forecasts
Latest Updates
Structural Trends
  Table: Crude Oil Net Exports (Greece 2014-2019)
  Table: Crude Oil Net Exports (Greece 2020-2025)
Fuel Trade Forecasts
Latest Updates
Structural Trends
  Table: Refined Fuels Net Exports (Greece 2014-2019)
  Table: Refined Fuels Net Exports (Greece 2020-2025)
Trade - Gas (Pipeline And LNG)
Latest Updates
Structural Trends
  Table: Gas Net Exports (Greece 2014-2019)
  Table: Gas Net Exports (Greece 2020-2025)
Industry Risk/Reward Index
North America And Western Europe Oil & Gas Risk/Reward Index
  Table: North America & Western Europe Oil & Gas Risk/Reward Index
Upstream Rankings: North America To Maintain The Lead
North America: US Unconventional Production Leads Decline
Western Europe Languishes In Maturing Assets
  Table: North America & Western Europe Upstream Risk/Reward Index, out of
Downstream Rankings: US Widens Its Lead
  Table: North America & Western Europe Downstream Risk/Reward Index
Greece - Risk/Reward Index
Market Overview
Energy Market Overview
Regulatory Structure
Fiscal Regime
  Table: Greece- Upstream Tax Regime
Licensing Regime
  Table: Greece - Contracts and Licensing Regime
Licensing Rounds
  Table: Greece - Completed and Ongoing Upstream Licensing Rounds
Exclusive Economic Zone
Oil And Gas Infrastructure
Oil Refineries
  Table: Oil Refineries In Greece
Oil Storage Facilities
Oil Terminals/Ports
  Table: Greece - Oil Terminals & Ports
LNG Terminals
  Table: Greece - Existing and Planned LNG Terminals
Gas Storage Terminals
  Table: Greece - Gas Storage Terminals
Gas Pipelines
  Table: Greece - Natural Gas Pipelines
Crude Oil Pipelines
  Table: Greece - Crude Oil Pipelines
Company Profile
Hellenic Petroleum
Latest Updates
  Table: Major Downstream Assets in Greece
  Table: Major Upstream Assets in Greece
  Table: Key Financial Data, EURmn
Energean Oil & Gas
Latest Updates
  Table: Major Upstream Assets
Regional Overview
North America And Western Europe Oil And Gas Regional Overview
  Table: North America - Key Regional Indicators, 2014-2025
  Table: Western Europe - Key Regional Indicators, 2014-2025
  Table: Glossary Of Terms
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Bmi's Oil & Gas Upstream Risk/Reward Index
  Table: Weighting
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