Friday, June 9, 2023
HomeGasGreece to upgrade Revithoussa LNG terminal in preparation for energy supply disruptions

Subscribe

To our FREE newsletter
Get all the latest maritime news delivered straight to your inbox.

Greece to upgrade Revithoussa LNG terminal in preparation for energy supply disruptions

Greece’s only liquefied natural gas (LNG) terminal on the islet of Revithoussa near Athens will be upgraded as the country is preparing its energy system for the worst-case scenario, such as a complete cessation of natural gas supplies from Russia, Greek Prime Minister Kyriakos Mitsotakis said.

“Liquefied natural gas is extremely critical in order to achieve the expansion of gas supply sources. In this plan, Revithoussa in its current form, but also in its upgraded form, plays a decisive role,” he said during a tour of the facilities, according to Greek national broadcaster ERT.

Greek Prime Minister Kyriakos Mitsotakis (1st R) and his Bulgarian counterpart Boyko Borissov (1st L) stand as the CEO of Bulgartransgaz Vladimir Malinov (2nd L) and Chairman of the Board of Directors of Gastrade SA Elmina Kopelouzou (2nd R) sign an agreement at Zappeio Hall in Athens, Greece, Aug. 24, 2020. (Xinhua/Nick Paleologos)

Managed by the Hellenic Gas Transmission System Operator (DESFA), the Revithoussa terminal is currently the only one in Greece that receives, temporarily stores and regasifies LNG and supplies the country’s National Natural Gas Transmission System. Its LNG storage capacity is currently 225,000 cubic meters and can regasify 1,250 cubic meters per hour, according to the DESFA.

In the coming months, the DESFA is planning to add a floating storage unit to the existing facilities, which will increase storage capacity to 380,000 cubic meters, and the regasification capacity will be increased by 12 percent, among other investment plans, company officials said.

“We are continuously working not only to maintain and guarantee 100-percent availability at the terminal, but also, as anticipated, to expand its ability to accommodate more ships and increase its ability to regasify and to serve the demand of the market,” Maria Rita Galli, DESFA’s chief executive officer (CEO), said.

In 2021, 31.8 percent of Greece’s total natural gas imports entered the country through this facility. In the first three months of this year, the respective figure was 43.23 percent. LNG cargoes arrived from six countries (the United States, Algeria, Nigeria, Egypt, Oman and Indonesia), according to DESFA data.

For years, approximately 40 percent of Greece’s annual energy needs have been covered by imported Russian natural gas, according to the Ministry of Environment and Energy.

Source: Xinhua

Related Posts

Video

Finance & Economy
Shipping News
Ports

Trafigura publishes 2023 interim results showing a strong performance

Trafigura, a market leader in the global commodities industry, released its 2023 Interim Report today for the six-month period ended 31 March 2023. The results...

Globus Q1 results hit by weak dry bulk market

Globus Maritime Limited, a dry bulk shipping company, reported its unaudited consolidated operating and financial results for the quarter ended March 31, 2023. Revenue $8.6 million...

BW LPG appoints new CFO

BW LPG announced that it has appointed Ms Samantha Xu as Chief Financial Officer (CFO), effective 1 September 2023. Ms Xu has over 20 years...

Frontline Posts Highest First Quarter Results Since 2008

Frontline plc reported unaudited results for the three months ended March 31, 2023: Highlights Highest first quarter profit since 2008 of $199.6 million, or $0.90 per...

Diana Shipping posts slightly lower Q1 profit; takes out $123m in loans

Diana Shipping reported net income of $22.7 million and net income attributed to common stockholders of $21.3 million for the first quarter of 2023....

Celestyal Participates In Promotion Of The Tourist Destination Of Central Macedonia

Celestyal, the award-winning, number one choice for travellers to the Greek Islands and the...

Capesize, panamax gains drive Baltic index higher

The Baltic Exchange’s main sea freight index rose for a fourth straight session on...

Baltic rises to over 3-month peak on firm demand for larger vessels

The Baltic Exchange’s main sea freight index rose on Wednesday to scale its highest...

Baltic index logs best day in nearly 3 months

The Baltic Exchange’s main sea freight index posted its biggest single-day gain since mid-March...

Taiwan Shipping Firms Set to Hand Out Bumper Bonuses Again

Taiwanese shipping companies are handing out bumper mid-year bonuses despite a slump in global...

Iraklio port tender set for another delay

The opening of the binding financial offers for 67% of Iraklio Port Authority had been scheduled for Thursday, but this is no longer expected...

APM Terminals extends concession of Kalundborg container terminal

APM Terminals has reached an agreement with the Port of Kalundborg to extend the concession of Kalundborg container terminal by 10 years to 2033. In...

US West Coast port workers shut terminals in showdown over pay

The employers of more than 22,000 dock workers at U.S. West Coast seaports on Friday said the union representing those laborers “is staging concerted...

DP World Completes Terminal Expansion Project Vancouver Port

DP World has completed the AED954 million ($259.78 million) Centerm expansion project, increasing container throughput at the Port of Vancouver by 60 percent. The terminal...

DP World completes AED 954 million Vancouver port expansion

DP World and the Vancouver Fraser Port Authority have celebrated two historic events – the completion of the Centerm Expansion Project at DP World...