Elpedison plans new Greek FSRU project

Elpedison, a power firm owned by Greece’s Hellenic Petroleum and Italy’s Edison, has revealed plans to install a floating storage and regasification unit (FSRU) off Thessaloniki.

The company said in a statement on Monday it has submitted an application to Greece’s Regulatory Authority for Energy (RAE) for an independent natural gas system (INGS) license.

According to Elpedison, the new project named Thessaloniki FSRU would consist of a 170,000-cbm FSRU in Thermaikos Gulf off Thessaloniki.

Subject to approvals and FID, the firm expects the FSRU-based terminal with up to 20 million cubic meters gas per day to start operations in 2025.

The FSRU would connect to onshore and underwater pipelines with Elpedison’s power plants in Thessaloniki, one existing and one under design, as well as with the existing pipelines in the area, the company said.

LNG bunkering

The construction of the FSRU project would strengthen the security of supply, allowing expanded access to the gas markets and contributing to the decongestion of the national gas transmission system, Elpedison said.

At the same time, the terminal would be a point of supply for ships with LNG fuel in the port of Thessaloniki, it said.

Elpedison added the operation of the FSRU would give the company greater flexibility in the activity of imports and management of natural gas, especially in peak periods.

It is also a means to increase commercial opportunities in Greece and abroad as well as to optimize the management and operation of power plants.

“In particular, it will enable the supply chain to operate more efficiently by seizing market opportunities, including flexibility in cargo management and in the optimization of LNG storage, contributing to the overall increase of moving gas volumes and, ultimately, to the country’s security of supply,” the firm said.

Five Greek FSRUs

Should the project materialize, this could be the fifth FSRU in Greece, adding to DESFA’s import terminal located on the island of Revithoussa.

Earlier this year, Gastrade’s shareholders Copelouzou, DESFA, DEPA, GasLog, and Bulgartransgaz took a final divestment decision on the first FSRU-based import project in Greece.

Gastrade is also planning to install a second FSRU offshore Alexandroupolis, while Dioriga Gas, a unit of Motor Oil, is looking to develop another FSRU-based import project in Greece’s Gulf of Corinth.

Greece’s Mediterranean Gas, the developer of an FSRU-based import project which includes ExxonMobil, has also received approval for its planned development in the port of Volos.

- Advertisements -

Most Popular

Golden Pass LNG contractor Zachry files for bankruptcy

US construction company Zachry said on Tuesday it has filed for bankruptcy, initiating a structured exit from the Golden...

Kinder Morgan secures more time for Gulf LNG export project

US energy company Kinder Morgan and its partners have secured more time from the US FERC to add liquefaction...

Hoegh LNG: commissioning of Brazilian FSRU completed

Commissioning of the FSRU Hoegh Giant which serves Cosan's LNG import terminal in Brazil's port of Santos has been...

More News Like This

Greece’s Elpedison testing market interest for Thessaloniki FSRU

Elpedison, a power firm owned by Greece’s Hellenic Petroleum and Italy’s Edison, is inviting companies willing to secure capacities...

Shell, BP seek US and EU intervention in dispute with Venture Global LNG

Energy giants Shell and BP have asked the U.S.-EU Task Force on Energy Security to intervene in a dispute...

Galp assessing all options regarding Venture Global LNG delivery delay

Portuguese energy firm Galp is assessing all options regarding its contractual rights following a delay in liquefied natural gas...

Edison says H1 profit down due to LNG delivery delay from Venture Global

Italian energy firm Edison, a unit of EDF, said that its profit declined in the first half due to...