Mediterranean Gas: high interest in Argo FSRU capacity

Greece’s Mediterranean Gas, the developer of the Argo FSRU terminal, said that Greek and international firms have shown high interest to secure capacities at its planned facility in Volos following a market test.

Mediterranean Gas launched the first phase of the market test for capacity allocation on October 31.

The first phase of the test was completed under the supervision of Greece’s Regulatory Authority for Energy (RAE) on December 19, according to a statement by the LNG terminal developer.

“An expression of interest was submitted by Greek and international companies, which exceeded the total capacity of the terminal, while the quantities declared are for a period of up to 25 years,” Mediterranean Gas said.

The demand for additional storage space in the terminal was “also particularly high”, it said.

Mediterranean Gas added that the project would soon proceed with the next binding phase.

The Argo FSRU project won an independent natural gas system (INGS) license from RAE in February this year.

Back in October of 2021, the firm signed a memorandum of understanding with ExxonMobil. The US energy giant would supply LNG to the proposed regasification terminal.

Besides signing the deal with ExxonMobil LNG Market Development, the firm signed deals with Lithuanian LNG terminal operator, Klaipedos Nafta, and Greece’s Goldenport Shipping Management, it previously said.

The FSRU-based terminal would be able to deliver up to 5.2 bcm of natural gas per year to the Greek grid. The unit would also have a storage capacity of 160,000-180,000 cbm.

Besides Greece, the facility could supply North Macedonia, Bulgaria, Romania, Albania, Italy, and the rest of Europe, according to Mediterranean Gas.

Plans also include small scale-LNG, LNG truck loading, and LNG bunkering.

The company’s goal is to commission the FSRU-based terminal in the first quarter of 2025.

Most Popular

Venture Global’s Plaquemines LNG wraps up $4 billion notes offering

Venture Global's unit Plaquemines LNG has closed a $4 billion offering of senior secured notes.

Argentina’s Enarsa to spend $567 million on LNG purchases

Argentina's state-owned LNG importer, Energia Argentina (Enarsa), will spend $570 million to purchase 22 liquefied natural gas (LNG) cargoes from BP and TotalEnergies this year.

Shell’s LNG Canada to ship second cargo

Shell-led LNG Canada is expected to soon ship the second cargo of liquefied natural gas from the Kitimat facility on the west coast of Canada, according to shipping data.

More News Like This

Gastrade to restart Alexandroupolis FSRU ops in August

Greece's Gastrade plans to resume Alexandroupolis FSRU operations on August 15 following a technical issue in January this year.

DESFA upgrades Revithoussa LNG terminal

Greece’s DESFA has upgraded its LNG import terminal located on the island of Revithoussa with a new high-pressure boil-off gas compressor station.

Greek LNG imports jump in Q1

LNG deliveries to DESFA's Revithoussa LNG terminal in Greece jumped in the first quarter of this year, with the US supplying most of the volumes.

Gastrade: Alexandroupolis FSRU remains offline due to technical issue

"For the moment, regasification services have been suspended due to a technical issue, for which we will provide further...