Greece approves construction of FSRU off Athens

Motor Oil (Hellas) Corinth Refineries

27/01/2023 14:00

ATHENS, Jan 27 (Reuters) - Greece has approved the
construction of a floating gas and regasification unit (FSRU)
off Athens after a fast-track process, its development ministry
said on Friday.
    As demand grows for liquefied natural gas (LNG) in Europe in
the wake of the war in Ukraine, Greece has relied heavily on its
sole LNG terminal off Athens, Revithoussa, to replace Russian
gas imports.
    Bulgaria also used the facility last year to secure LNG
after Moscow cut Russian pipeline gas supplies to the country.
    Seeking to become a key transit route for gas destined for
Europe, Greece has been more eager to build new LNG terminals
that could be operational by 2025.
    The new gas terminal will be developed by Motor Oil  MOr.AT 
off its oil refinery in Corinth, near Athens, at a cost of 340
million euros ($369 million). 
    It will have a maximum storage capacity of up to 210,000
cubic metres of gas which will be either regasified and exported
through Greece's gas grid or sold as LNG via vessels and trucks.
    Motor Oil had pushed back to Jan. 25 the deadline for
interested parties to submit binding offers for booking capacity
at the terminal, citing increased market interest.
($1 = 0.9197 euros)
 (Reporting by Angeliki Koutantou;Editing by Elaine Hardcastle)
 ((angeliki.koutantou@thomsonreuters.com; +30 2102214608;
Reuters Messaging: angeliki.koutantou.reuters.com@reuters.net))