Fast Facts
| Wholesale Trading Licence | No licence required to import, export or sell gas to a supplier or wholesale customer |
| NNGS Registration | Wholesale traders register in the NNGS Users Registry held by RAAEY |
| Supply Licence | Required only for final-customer supply; renewable 20-year term and 4-month decision period |
| DESFA Guarantee | Minimum EUR 100,000 guarantee required for transmission and VTP access |
| LNG and Hub Position | Revithoussa about 5.3 bcm/year and Alexandroupolis FSRU about 5.5 bcm/year |
| Import Scale | Total gas imports around 66 TWh, up on prior years |
Greece Gas Market Fundamentals
Greece's gas market is fully open and follows the EU Third Energy Package, with unbundling under the ITO model, third-party network access and DESFA as the independent transmission operator.
The Virtual Trading Point is Greece's wholesale trading point, operated by DESFA under the NNGS Network Code. Gas is traded bilaterally and on the HEnEx organised Natural Gas Trading Platform, launched on 21 March 2022.
Greece is import-dependent and is becoming a regional transit and LNG import hub, with total gas imports around 66 TWh, up on prior years. Revithoussa and Alexandroupolis FSRU support LNG access.
When Is a Licence Required in Greece's Gas Market?
RAAEY is Greece's independent regulator, and the Ministry of Environment and Energy sets energy policy. No separate gas trading licence is needed to import, export or sell gas wholesale.
A licence is required only to supply final customers. RAAEY grants supply licences for renewable 20-year terms, with a decision issued within four months of a complete application.
Wholesale traders must register with RAAEY in the NNGS Users Registry to use the system and trade at the VTP. Each user also signs a Standard Transmission Framework Agreement with DESFA.
Under REPowerEU Regulation (EU) 2026/261, gas imports require prior authorisation from customs/AADE before entering the EU customs territory.
What Are Greece's Gas Market Licence Requirements for EU and Non-EU Entities?
EU traders established and seated in an EU, EEA, or Energy Community state may register in the NNGS Registry for wholesale trading and may also apply for a supply licence without a local entity.
Simplified licensing: EU suppliers can rely on home-state documentation, a form of "passporting." They must still apply to RAAEY, as there is no automatic recognition of a foreign licence.
Non-EU traders may register as NNGS Users if they come from a third country with a bilateral agreement with Greece or the EU, or if they establish a branch in Greece. Foreign corporate documents must be apostilled and officially translated into Greek. The NNGS registration and the EUR 100,000 guarantee apply on the same basis as for EU traders.
Balancing in the Greece Gas Market
DESFA balances the National Natural Gas System in real time. Balancing follows the EU Gas Balancing Network Code, applied through the NNGS Code and RAAEY decisions.
Each user must sign the Standard Transmission Framework Agreement with DESFA before taking part in balancing. DESFA uses market-based signals that encourage users to balance their positions.
Day-ahead and within-day products traded on HEnEx are physically settled through DESFA's balancing mechanism. Participation requires RAAEY registration, a DESFA agreement and admission to HEnEx.
Transmission Capacity in the Greece Gas Market
DESFA allocates firm and interruptible capacity at NNGS entry, exit and interconnection points under the NNGS Code. Key points include Sidirokastro with Bulgaria, Kipi with Turkey and Nea Mesimvria for TAP, alongside the IGB interconnector.
Users register in DESFA's New Commercial Information System to submit documents and conclude the Standard Transmission Framework Agreement. Once signed, cross-border capacity is booked via RBP and VTP access is arranged through NCIS.
DESFA reviews a complete application within five business days. Transit expansion aims to raise capacity from 3.1 to 8.5 bcm/year by 2027 through new compressor stations.
Greece Gas Market Exchange(s)
The Natural Gas Trading Platform is run by HEnEx and operates under the EU Gas Balancing Network Code and REMIT. Transmission system users trade anonymously on the platform, with a focus on day-ahead products.
HEnEx publishes Closing Prices, the Next-Day Gas Index, the Intraday Gas Index and buy and sell marginal prices.
Applications are reviewed within 10 business days, followed by a Certificate of Registration within five business days of approval. Members choose Non-Clearing or Direct Clearing status and must have Certified Traders.
5 Market Entry Steps for Greece Gas Market
- 01Register with RAAEY in the NNGS Users Registry.
- 02Sign a Standard Transmission Framework Agreement with DESFA and provide the required guarantee.
- 03Apply for VTP access and obtain REPowerEU/AADE authorisation where import activity requires it.
- 04Conclude an LNG Facility Agreement and book capacity where LNG access is needed.
- 05Apply for admission to the HEnEx Natural Gas Trading Platform.
- Post-Market Entry Reporting Obligations.
CorreggioNET, Greece Gas Market Access Report
Market Access Reports: CorreggioNET offers Pre-Market Entry Reports (PMER) as part of the PMER Library, providing firms with an A-to-Z guide for market entry.
CorreggioNET Alert Service: Helps you never miss a reporting obligation. Note that Greece has multiple gas market reporting obligations across RAAEY, DESFA, and HEnEx, with a complex and evolving regulatory landscape. The Alert Service ensures you never miss a deadline.
CorreggioNET Hotline: For your time-sensitive queries, the Regulatory Hotline Service provides direct support through an online interaction with a qualified regulatory specialist.
Consulting Solutions: For those firms which require additional assistance, Correggio Consulting is on hand to assist with all your licensing needs:
- Market entry & NNGS Registry registration;
- RAAEY supply licensing or license recognition;
- DESFA/VTP & Revithoussa LNG onboarding;
- Standard Transmission Framework Agreement;
- HEnEx admission;
- EFET contract negotiation;
- Yearly compliance audits.
Market Info
Stay Compliant After Market Entry
Entering a new market is only the beginning.
Once trading activity starts, the real challenge is staying compliant with ongoing regulatory updates and reporting obligations. CorreggioNET supports this post-market entry stage through its regulatory platform and monitoring services.
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