Greece’s DESFA takes FID to build Revithoussa small-scale LNG jetty

Greece’s DESFA has recently taken a final investment decision to build a small-scale jetty at its LNG import terminal located on the island of Revithoussa, boosting bunkering opportunities in the region.

The project has a price tag of about 20.4 million euros ($24.6 million) and the Greek gas grid and LNG terminal operator expects to launch the new jetty in September next year, according to its development plan.

DESFA revealed studies for the project last year as part of the POSEIDON MED II LNG bunkering initiative. It also signed a contract for a truck loading station at the facility scheduled for completion this year.

The Greek firm will build the jetty in the northeastern part of the island located in the gulf of Pachi at Megara, 45 km west of Athens. The new jetty will have the capacity to load small-scale ships ranging in size from 1,000 cbm to up to 28,000 cbm.

Moreover, the smallest vessels will supply the fuel to LNG-powered cruisers, containerships, and other ships primarly in the port of Piraeus but also other locations, according to DESFA.

The larger ships will supply satellite LNG storages and distribution stations to other ports in
Greece, such as Patras, as planned in the Poseidon Med II program, as well as islands
through virtual pipeline schemes, it said.

DESFA said it has applied for a grant with the National Strategic Reference Framework (NSRF), which would cover 50.4 percent of the total project’s cost.

In addition, the firm plans to use cash reserves or secure a loan for the rest.

Italy’s Snam holds a controlling stake in DESFA via Greece-based joint venture Senfluga Energy Holdings.

The venture has a 66 percent stake in DESFA and consists of majority owner Snam, Spain’s Enagas, Belgium’s Fluxys, and Copelouzos Group’s Damco.

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