Greece is an energy hub with five FSRUs – The firepower is now at sea
After the first one Its FSRU Gastrade to be put into operation the 2024 three more FSRUs will follow, which in the next period will carry out the market test that will prove their viability.
The floating receiving terminals;temporary storage and gasification of Liquefied Natural Gas-LNG, FSRUs have a critical role in strengthening the country’s energy supply and are a priority in Europe after the energy crisis that broke out from the Russia-Ukraine war.
With the completion of the following projects from 1 FSRU that the country currently has at Revythoussa in a few years i have 5.
By the end of 2023 with the operation of Gastrade’s first floating tank in Alexandroupoli, you will double the country’s capacity at the airport, while reducing its energy dependence.
RAE approved in the Plenary the terms to start the binding market test of the FSRU in the Gas Canal and at the same time approves the conditions for conducting a non-binding market test for the Volos FSRU.
At the same time, creation is progressing and a second floating liquefied natural gas storage and regasification unit from Gastrade in Alexandroupoli and in December the market test must be done for the new unit which is planned to operate in 2025. Essentially it is a unit with the one currently being developed by Gastrade and it is going to operate at the beginning of 2024 off the port of Alexandroupoli.
Gas Canal (Motor Oil)
The company’s goal is to complete the new terminal in Agios Theodoros by the end of 2023 to the beginning of 2024. In the FSRU project located southwest of the Motor Oil refinery in the area of Ag. Theodoron of Corinth and will be connected to the National Natural Gas System (ESFA) through an onshore pipeline that will be built with hydrogen blending technology.
The plant’s storage capacity will be 210.00 m3, with a gasification capacity of 132,000 MWhs / day and an estimated demand of up to 2.5 bcm.
This is a project, of national and international scope, as it will have a new natural gas import at the southern end of Greece (with the largest domestic consumption) that will serve them throughout Greece and neighboring countries.
It is recalled that in June 2021, MORE (Motor Oil Renewable Energy) purchased for 1,474,000 euros all the shares of Diouriga Gas from Ireon Investments Ltd (100% subsidiary of Motor Oil).
The Volos FSRU
The project for the “Argo” unit has an initial budget of approximately 230 million euros. The unit facilities will include:
- Floating Storage and Regasification Unit (FSRU).
- Floating wharf with multiple mooring points / floating notes for FSRU mooring at stern and bow.
- Subsea and onshore natural gas pipelines for injection into the National and Cross-Border Natural Gas Transmission Systems, throughout Southeast Europe and the Western Balkans.
- LNG storage tanks, with a total capacity of approximately 170,000 cubic meters.
- Offloading from LNG carriers to FSRU cryogenic tanks.
- LNG suction pumps in a gasification unit with a potential supply of 300 cubic meters of LNG per hour.
- LNG gasification with units of 250 MMSCFD capacity each.
- The average and maximum gasification capacity of the floating unit is estimated at 590,000 cubic meters of FA per hour and 884,000 cubic meters of FA per hour.
- Total full terminal regasification capacity: 4.6 bln. cubic meters of natural gas.
The share composition of “MEDITERRANEAN GAS” is as follows: NORION Ltd with a percentage of 9%, VAPIANDO Ltd, with a percentage of 71% and Goldenport Marine Ltd with a percentage of 20%. The owners of those active in the shipping sector, with long-term relevant experience.
The units FSRU her Gastade
FSRU Alexandroupolis will be operational at the end of 2023, with the contracted gasification potential already reaching up to 60% of the technical capacity of 5.5 billion. k.m. per year.
The first floating storage and gasification unit, with a capacity of 153,500 m2. LNG, will be connected to the National Natural Gas Transmission System of Greece with a 28 km long pipeline, through which the gasified LNG promoted to the markets of Greece, Bulgaria, the wider region (Romania, Serbia, North Macedonia etc. . .) but also with the prospect of supplying Ukraine as well.
It will be followed by another “twin” investment which will be installed in the same area has the license of the Energy Regulatory Authority (RAE) and at the end of the year it is planned to start the market test, for which, as the company executives report, the interest . for capacity commitment is already huge, from energy companies and traders from around the world, pointing out that it will easily exceed the limits that will make the project operational in 2025. Both FSRUs that will handle about 11 to 12 billion cubic meters of gas per year, which is about as much as the TAP pipeline.
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