GasLog’s vessel to start FSU job at DESFA’s Revithoussa LNG terminal

GasLog’s 2006-built LNG vessel, Methane Lydon Volney, is ready to start serving as a floating storage unit at DESFA’s Revithoussa LNG import facility in Greece.

The steam turbine vessel has a capacity of 145,000 cbm and will serve DESFA under a one-year charter deal.

DESFA’s CEO Maria Rita Galli visited the vessel on Wednesday along with Greece’s Energy Minister Kostas Skrekas and other government members, as well as other officials from DESFA and the vessel’s charterer GasLog, according to a social media post.

“During this critical time, DESFA was on the frontline of current developments, implementing a series of investments to strengthen its infrastructures and further diversify the Greece’s sources of supply, and significantly reduce the country’s dependence on natural gas coming from Russia,” Galli said during the visit.

Boosting storage capacity to 360,000 cbm

DESFA’s chief said that with the addition of the FSU, the company increases the total storage capacity of Revithoussa to 360,000 cbm.

This contributes “decisively to ensuring alternative sources of supply via LNG unloadings and overall to the country’s security of supply, through our technical experience and infrastructure,” she said.

The vessel is moored near the Revithoussa LNG terminal and is “ready to be put into operation, as soon as this is required,” Galli said.

Greek LNG imports to continue to rise

LNG deliveries to the Revithoussa termnal surged in the January-June period of this year due to higher volumes from the US.

DESFA recently said in a report that its LNG import terminal located on the island of Revithoussa received in total 39 vessels during the six months, compared to just 15 shipments in the same period last year.

LNG deliveries to Greece are expected to significantly rise in the future as Europe looks to reduce its reliance on Russian gas supplies.

The European Union sees Greece as an important hub for ensuring energy security in southeastern Europe.

Besides the Revithoussa termnal, DESFA is also a shareholder in Greece’s LNG terminal developer, Gastrade.

Gastrade’s shareholders DESFA, Copelouzou, DEPA, GasLog, and Bulgartransgaz in January 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.

In addition, 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.

Elpedison, a power firm owned by Greece’s Hellenic Petroleum and Italy’s Edison, revealed plans to install an FSRU off Thessaloniki as well.

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