Greece’s first FSRU arrives in Alexandroupolis - LNG PRIME

December 17, 2023

Greece’s first floating storage and regasification unit (FSRU) has arrived in Alexandroupolis, where it will soon start serving Gastrade’s LNG import project.

According to its AIS data, the 153,600-cbm Alexandroupolis was on Sunday anchored offshore the Greek port of Alexandroupolis.

Greece’s Gastrade previously said that the FSRU would arrive in the port on December 17 from Singapore.

Last month, the vessel left Seatrium’s yard in Singapore following the completion of the conversion work at the yard.

Gastrade’s shareholder and Greek LNG shipping firm GasLog told Keppel Offshore & Marine, now Seatrium, in February last year to proceed with the conversion of the 2010-built, GasLog Chelsea, to an FSRU.

EU keeps EastMed gas pipeline on new list of priority projects - REUTERS

November 28, 2023
Francesca Landini

MILAN, Nov 28 (Reuters) - The European Commission has maintained a proposed pipeline connecting the gas reserves in the Eastern Mediterranean to Greece via Cyprus and Crete on its new list of Projects of Common Interest (PCI) published on Tuesday.

Projects included in the PCI list have access to a fast-track permitting process and special funding.

Energy group Edison (EDNn.MI) and Greece's DEPA International Projects are the sponsors of the project through their joint venture IGI Poseidon.

The joint venture has still to take a final investment decision (FID) on the pipeline, which would connect several gas fields in the Eastern Mediterranean, including some in offshore Israel, to Greece.

Edison sees investment decision on EastMed gas pipeline by year-end - REUTERS

March 20, 20238:06 AM GMT+2

Francesca Landini

Edison's logo is seen outside the company headquarters in downtown Milan, Italy, January 14, 2016. REUTERS/Stefano Rellandini

MILAN, March 20 (Reuters) - Energy group Edison (EDNn.MI) plans to take the final investment decision on a proposed pipeline to deliver east Mediterranean gas to European markets by the end of this year, the Italian project developer told Reuters.

The EastMed-Poseidon pipeline, which would initially connect several gas fields offshore Israel to Italy and have an annual capacity of 10 billion cubic metres (bcm) of gas, could be ready by 2027, Edison said.

The project, supported by Israel, Cyprus and Greece, would guarantee alternative supplies for Europe, which is weaning itself off of Russian piped gas. In addition, it would better connect Cyprus to its EU partners.

New Italian govt aims to double national gas production - REUTERS

October 27, 202211:27 AM GMT+3

MILAN, Oct 27 (Reuters) - Italy plans to double its national gas production to 6 billion cubic meters (bcm) per year from the current 3 bcm, its industry minister said, in a further effort to cut the country's dependence on Russian supplies.

"One of our goals is to develop a plan that will make us as quickly as possible less dependent and will then turn us into the energy hub of the Mediterranean", Industry Minister Adolfo Urso told Il Messaggero daily in an interview published on Thursday.

The government will also authorise new offshore drilling in the Adriatic sea, he said, echoing the words of Italy's new Prime Minister Giorgia Meloni, who said this week that Rome "has a duty to fully exploit" its offshore gas reserves to diversify energy sources.

Bulgaria to double reserve capacity at new Greek LNG terminal - REUTERS

SOFIA, Aug 29 (Reuters) - Bulgaria has reached an agreement in principle to double its reserved capacity at a new liquefied natural gas (LNG) facility to be built off the northern Greek port of Alexandroupolis, the interim energy minister said on Monday.

Rossen Hristov told reporters that raising the reserved capacity to 1 billion cubic meters (bcm) of gas per year at the LNG terminal, expected to become operational at the end of 2023, will help the Balkan country ensure diversified and stable gas supplies.

The interim government, which has come under fire at home for seeking to renew gas supplies from Russia’s Gazprom , has said it plans to open tenders for mid to long-term gas deliveries and wanted to import more LNG gas through Greece.

The Alexandroupolis terminal is due to be built by a consortium of Greece’s Copelouzos family, Greek gas companies DEPA and DESFA, Bulgaria’s Bulgartransgaz and Cyprus’s Gaslog.

European Commission to fund major LNG project in Greece - RIVIERA NEWS

22 Jun 2021

The European Commission (EC) will provide €166.7M (US$198M) for the construction of a new LNG terminal in Alexandroupolis, Greece

Funding for the project, which is expected to improve security of supply for Greece and the wider southeastern European region, was approved under the EU’s state aid rules.

Commenting on the EC’s decision, executive vice-president Margrethe Vestager said “The new LNG terminal in Alexandroupolis will improve gas supply and infrastructure not only in Greece, but in the whole southeastern European region. This will contribute to achieving the EU’s goals in terms of security and diversification of energy supply. The Greek support measure limits the aid to what is necessary to make the project happen and sufficient safeguards will be in place to ensure that potential competition distortions are minimised.”

The Greek State will finance the project using European Structural and Investment Funds and support will take the form of a direct grant amounting to €166.7M (US$198M).

Greek-Italian venture signs agreement with Israel on Eastmed gas pipeline scheme - REUTERS

ATHENS, March 9 (Reuters) - Greek-Italian gas joint venture IGI Poseidon said on Tuesday it had signed an agreement with the Israel Natural Gas Lines Company to cooperate on building facilities to connect Israel to a planned gas pipeline in the eastern Mediterranean.

Greece, Cyprus and Israel last year signed a deal to build the Eastmed gas pipeline, which has been in the planning for several years and seeks to transport gas from offshore Israel and Cyprus to Greece and on to Italy to help Europe diversify its energy resources. IGI Poseidon, a joint venture between Greece’s state-owned gas utility DEPA and Italy’s Edison, said the agreement with the Israeli company, which updates a 2019 memorandum of understanding, aims to connect the Eastmed project to the Israeli transmission system and facilitate gas flows from the eastern Mediterranean to Italy and Europe, via Cyprus.

EastMed pipeline project seeks offshore EPCI players - OFFSHORE ENERGY

April 28, 2020

Adis Ajdin

IGI Poseidon has rolled out a tender for EPCI activities related to offshore sections of EastMed pipeline project.

IGI Poseidon is a 50:50 joint venture between Public Gas Corporation of Greece (DEPA) and Edison International Holding.

Eastern Mediterranean (EastMed) is a 1,900 kilometers long natural gas pipeline project to connect the gas reserves of the eastern Mediterranean to Greece.

EastMed pipeline project is currently in its FEED development phase.

Greece says nine investors interested in gas distribution network sale - REUTERS

FEBRUARY 21, 2020 / 6:43 PM

ATHENS (Reuters) - Greece received nine expressions of interest from investors in the sale of the country’s state-controlled gas distribution network, DEPA Infrastructure, the country’s privatisation agency said on Friday.

Greece, which emerged from a series of international bailouts in 2018, intends to sell gas utility DEPA’s commercial and distribution business in two separate tenders to help open up the sector.

The country is selling its 65% stake in DEPA Infrastructure.Hellenic Petroleum, which holds the remaining 35% inthe company, has also agreed to offload its stake.

The privatisations agency said the following investors had expressed interest to acquire DEPA Infrastructure:

Antin Infrastructure Partners, China Resources Gas (HONG KONG) Investment Ltd, Consortium SINO-CEE Fund and Shanghai Dazhong Public Utilities Group, EP Investment Advisors, First State Investments (European Diversified Infrastructure Fund II), Italgas SpA, ISQUARED Capital Advisors LLP, KKR (KKR Global Infrastructure Investors III L.P.), MAQOUARIE (MEIF 6 DI HOLDINGS).

The agency said its advisors would evaluate the expressions of interest and make their recommendations to its board on the candidates that “qualify for the next phase of the tender, the binding offers phase.”

Greece launches privatisation of gas supplier DEPA Commercial - KATHIMERINI / REUTERS

24.JAN.2020 : 08:30

Greece launched on Thursday the sale of a majority stake in state-controlled gas utility DEPA’s wholesale and retail business, its privatisation agency said.

The Greek government is selling a 65 percent stake in DEPA Commercial as part of the terms of the country’s final EU/IMF bailout.

Hellenic Petroleum, Greece’s biggest oil refiner holds the remaining 35 percent stake in the gas utility.

According to the tender document published by the privatisation agency, the preferred investor will also have the option to acquire Hellenic’s stake in DEPA Commercial.

The agency set a March 6 deadline for the submission of non-binding bids.

Greek gas utility DEPA says wins case over supply deal with Turkey's BOTAS - REUTERS

JANUARY 16, 2020 / 12:47 PM

ATHENS (Reuters) - Greece’s state-controlled gas utility DEPA, earmarked for privatization this year, has won a legal case over a supply deal with Turkish state energy company BOTAS, DEPA said on Thursday.

The International Court of Arbitration (ICC) ruled on Wednesday that BOTAS should cut retrospectively the contractual gas prices that DEPA has paid, DEPA said in a statement.

The ruling is the last step in a 10-year legal battle between DEPA and BOTAS and its impact is being assessed by DEPA, it added.

A source with knowledge of the matter said new pricing would apply from 2011 to the present and that DEPA had paid BOTAS $181 million under a previous ruling of the arbitration court as part of the legal case which started in 2009.

BOTAS was not immediately available to comment.

Britsh-Greek Company Energean to Join EastMed Pipeline - HAARETZ

Ora Coren
Jan 02, 2020 5:07 AM

The memorandum of understanding will be the first commercial agreement linked to the giant energy project

Energean, the British-Greek company that controls the Israeli Karish and Tanin natural gas fields, will sign a memorandum of understanding Thursday with the Public Gas Corporation of Greece in the first commercial agreement connected with the projected EastMed pipeline.

Greek media reported that the deal to provide Energean gas will be signed shortly before Prime Minister Benjamin Netanyahu and Greek and Cypriot leaders sign an agreement in Athens on Thursday to develop the pipeline.

This will also be a show of force against Turkey, which has effectively agreed with Libya to divide much of the East Mediterranean.

Italgas to enter Greek market - KATHIMERINI

15.11.2019 : 16:03

CHRYSSA LIAGGOU

Italy’s biggest natural gas distribution company, Italgas, is on the verge of entering the Greek market.

Kathimerini understands that Europe’s third largest gas distributor is very close to reaching an agreement with fellow Italian Eni Gas e Luce for the acquisition of the latter’s portfolio in the Greek gas grid.

Eni Gas e Luce is a subsidiary of oil giant Eni and is active in electricity and gas retail in Greece through ZeniTH (formerly known as Thessaloniki and Thessaly Gas Corporation). It also has a 49 percent holding in Thessaloniki gas distributor EDA Thess, which is 51 percent owned by Public Gas Corporation (DEPA).

IGI Poseidon signs MoU on Israeli gas pipeline - KATHIMERINI / REUTERS

05.11.2019

Israel Natural Gas Lines (INGL) is looking at building a natural gas pipeline to Europe under a memorandum of understanding signed with IGI Poseidon, it said on Tuesday.

The mooted EastMed pipeline could carry about 10 billion cubic meters of gas a year from the Eastern Mediterranean to Cyprus, Greece, Italy and other European markets.

INGL and IGI Poseidon will form a joint team to examine technical, regulatory and other issues involved in constructing the pipeline, INGL said in a regulatory filing.

IGI Poseidon is a joint venture between Greek natural gas firm DEPA and Italian energy company Edison. It has been promoting the project for several years with the backing of Israel and a number of European countries.

Vast offshore gas discoveries over the past decade have transformed Israel into an energy exporter, with export deals already signed with customers in Jordan and Egypt.

ENERGY: Cyprus receives intense international interest for gas supply tender - FINANCIAL MIRROR

13 September, 2019

The first phase of Cyprus Gas Company’s (DEFA) tender process for the supply of liquefied natural gas (LNG) has triggered considerable interest from major international players such as Shell, BP, Eni and Total.

According to DEFA, 25 suppliers, among the most dominant in the global LNG market, are seeking to supply gas to Cyprus and have submitted the prerequisites to qualify for the next stages of bidding and negotiation.

“The intense market competition for LNG supplies confirms that the strategy to acquire an FSRU was a decision toward the right direction,” a DEFA statement said.

Bidders/suppliers participating in the next round of bidding and negotiating are; Gunvor International B.V. Amsterdam, Naturgy LNG Marketing, Centrica LNG, Endesa Energia, Cheniere Marketing International LLP, Equinor ASA, Novatek Gas & Power Asia Pte, Shell International Trading Middle East, Enel Global Trading, Eni Trading & Shipping, Total Gas & Power Asia Private, Osaka Gas Kabushiki Gaisha, Powerglobe LLC, Repsol LNG Holding, Petronas LNG, BP Gas Marketing, Vitol, B.B. Energy (ASIA), Mytilineos, Uniper Global Commodities SE, Marubeni Corporation, SONATRACH and Public Gas Corporation (DEPA), Eni (Gas & LNG Marketing and Power), Glencore Energy UK and Mitsui & Co.

Mytilineos Group overtakes DEPA as major LNG importer in 2019 - KATHIMERINI

WEDNESDAY AUGUST 9, 2019

Private Greek industrial group Mytilineos has overtaken incumbent DEPA to become the country’s biggest LNG importer this year, the first time in history that an independent company has knocked the state-owned company from the top spot, ICIS an information platform on petrochemicals and specifically on energy issues, fertilisers and other commodities said in a report.

Mytilineos imported over 370,000 tonnes of LNG from January to July, or 39 percent of the national total supplies, according to LNG Edge. DEPA took 273,000 tonnes, or 29 percent.

DEPA’s market share was 92 percent last year, and has never previously fallen below 50 pct. The shift indicates the progress made in one of the last countries in the European Union to liberalize its gas market.

The market began opening back in 2005, but momentum picked up from 2018 when the retail market was fully liberalized, leaving consumers free to choose their supplier. DEPA has been losing customers ever since.

With demand from the electricity power sector as well as industrial needs in aluminium manufacturing, Mytilineos is at the forefront of the market.

ICGB signs contract with owner's engineer for Greece-Bulgaria gas link - SEE NEWS

Jun 10, 2019 11:46 EEST
Mario Tanev

SOFIA (Bulgaria), June 10 (SeeNews) - ICGB, the company developing the Gas Interconnector Greece-Bulgaria project, said that it has signed a 5.67 million euro ($6.41 million) contract with the TIBEI consortium, which won the tender for selecting an owner's engineer for the project.

The contract was signed on May 20, according to a notice by the ICGB, published on Friday.

The TIBEI consortium comprises Belgium's Tractebel Engineering S.A, Italy's Tractebel Engineering SRL, Austria's Intber GmbH and Bulgarian companies Ipsilon Consult and Bulgaria Engineering.

"The commitment involves assisting the Contracting Entity in the implementation of the project during the construction phase until the pipeline enters into operation and management of all the main contracts related to the project - including the contract for the supply of line pipes and the contract for the award of design, procurement and construction," ICGB has said previously.

Israel extends deadline for bids in second gas license round to mid-July - PLATTS

07 Jun 2019 | 10:40 UTC Author: Stuart Elliott, Editor: Dan Lalor 

London — Israel has extended by a month to mid-July the deadline for bids in its second international gas licensing round due to the number of requests for documentation from interested parties.

The round is offering licenses for 19 blocks within five zones as Israel looks to move forward with upstream developments to help feed an offshore gas pipeline to southern Europe.

"Due to the number of requests received from companies that purchased the documents of the competitive process, they are allowed another month to prepare for submission," the energy ministry said.

The round was launched in November by energy minister Yuval Steinitz who said he hoped to attract new international energy companies to the country's already proven offshore.

Any company holding over 20% of an existing production license will not be able to participate in the current bid round following criticism of work offshore Israel to date, which has been dominated by a handful of companies, including the US's Noble Energy and Israeli explorers Delek and Ratio.

Each of the 19 blocks measure up to 400 square km and each zone, consisting of multiple blocks, is as large as 1,600 sq km.

The zones are located in the southern extent of Israel's economic waters, an area which has been previously licensed in part and had previous seismic research and limited exploration activity.

Italy opposes Poseidon gas pipeline landfall - REUTERS

MAY 7, 2019 / 7:37 PM

ROME, May 7 (Reuters) - Italy will not allow the Poseidon gas pipeline being developed by Italy’s Edison and Greece’s DEPA to make landfall as planned in southern Italy, the Prime Minister said on Tuesday.

The Poseidon pipeline, which has permits to run from Greece to the southern town of Otranto, is the final section of the EastMed pipeline that aims to bring gas reserves from the east Mediterranean to Italy.

TEKMOR Note: The Poseidon pipeline was planned as the last leg of the Southern Gas Corridor (SGC) to transport gas from Azerbaijan via TANAP & TAP long before the idea of East Med Pipeline came into being!

“The government is certainly not interested at present in building the final tract of Poseidon as originally planned,” Prime Minister Giuseppe Conte said at an event near Rome.

Two years ago DEPA and Edison signed a cooperation agreement with Russia’s Gazprom to set up joint efforts to create a southern route for gas into Europe.

The United States has been pressuring EU member states to find alternative natural gas supply sources not involving Russia.

J&P AVAX files lowest bid to build Bulgaria-Greece gas link - KATHIMERINI / REUTERS

TUESDAY APRIL 23, 2019, 15:04

Greece’s J&P AVAX filed the lowest offer in a tender to design and build a gas pipeline between Bulgaria and Greece, project manager ICGB said on Tuesday.

The company offered a price of 144.85 million euros ($163 million) to build a 182 km (113 mile) pipeline which Sofia hopes will become operational in 2020 to transport Azeri gas to Bulgaria and end its almost complete dependence on Russian gas supplies.

A consortium of two Bulgarian companies and Italy’s Bonatti submitted an offer of 229.3 million euros in the tender.

ICGB said it would examine the offers and pick a winner by the end of May. The pipeline will have an annual capacity of 3 billion cubic metres.

The European Commission has said it would invest 33 million euros of European Union funds in the project.

ICGB is 50 percent owned by Bulgaria’s state-held BEH energy holding company. The remaining shares are held by the Greek gas company DEPA and Italy’s Edison.