Second phase of Market test

522 days ago

The second phase of the market test for Dioriga Gas, concerning the reservation of capacity at the floating LNG terminal, was successfully completed. 

The project, of significant and strategic importance, will be located in the area of Ag. Theodoroi and is being developed by DIORIGA GAS, a 100% subsidiary of MOTOR OIL HELLAS. 

Commitments reached up to 25 years from the estimated COD (Commercial Operation Date) of Dioriga Gas reaching up to 2 billion cubic meters per year. It is worth noting that the participation of major international and Greek natural gas companies strengthens the project and ensures its long-term operations & sustainability. The gas is estimated to be supplied both to the Greek market (new CCGT units) and to the markets of South East Europe (Bulgaria, Romania, Italy to Hungary and Ukraine). Moreover, the FSRU is designed to be H2 ready.

This is a strategic project of national and international importance, as it will constitute a new import gateway serving gas consumers throughout Greece and neighboring countries, with significant benefits. These include security of supply to the Greek and European markets, reduction of dependence on pipeline gas and supply diversification providing access to more LNG sourced all over the globe. It is also noted that the project has been included in the Strategic Investments regime of the Interministerial Committee at a Fast Track pace, thus actively recognizing it as a strategic investment that enhances the transformation of the country into an energy hub of the Eastern Mediterranean and Eastern Europe.

The terminal will have LNG truck loading & LNG break bulking capabilities (not subject of the current market test)

It is noted that the market test process was conducted under the supervision of the Greek Regulatory Authority for Energy (RAE) and in line with the “Guidelines for the management and the allocation of capacity on the Dioriga Independent Natural Gas System (Dioriga LNG Terminal) according to paragraph 6 Article 36 of Directive 2009/73/EC