The Inter-Departmental Committee on Strategic Investments (DESE) has given the green light to the LNG terminal that Motor Oil wants to build in Agioi Theodorou, Corinthia. At yesterday’s meeting, it was decided to encourage investment towards rapid licensing, ie. to speed up the process.

The investment of 339.6 million euros relates to the construction and operation of a natural gas terminal, which will be connected by an onshore gas pipeline to the national natural gas transmission system. Four separate sections will be built, two of which are designated “Hydrogen Ready” as they can also be used to transport hydrogen with minimal modifications. In particular, the construction of a floating storage and regasification unit (FSRU), the construction of a berth (Hydrogen Ready), its equipment and dry structures (Hydrogen Ready), as well as a measuring station and its connection to the transmission system are envisaged. These investments create 59 jobs. This is the 34th strategic investment approved by the current government.

The €339.6 million terminal project at Agios Theodoros will be implemented on an accelerated basis.

The Gas Pipeline project has been included in DESFA’s 10-year development plan (2021-2030) and will be connected to the national gas system via an onshore pipeline. The storage capacity is up to 210,000 m3, the gasification capacity is 132,000 MWh/day, and the estimated annual demand is 2.5 billion cubic meters. With the completion of the Gas Canal, the capacity of the Greek natural gas system will increase by 80%, a direct consequence of the increased security of supply in the country.

Development and Investment Minister Adonis Georgiadis said after the DECE meeting: “We have approved a very important strategic investment that enhances our country’s transformation into an energy hub in the Eastern Mediterranean and Eastern Europe. I am referring to the investment project “Liquefied Natural Gas Storage and Regasification Unit” of the investment company Dioriga Gas, which is part of the Motor Oil Hellas Group, in the amount of 339.6 million euros. With such big steps, Greece will move forward and we will provide cheaper energy for Greek consumers.” Motor Oil’s FSRU is one of three under development.

By 2023, the FSRU Alexandroupolis with a capacity of 8.3 billion cubic meters will be completed. gas per year and a storage capacity of 170,000 m3. liquefied natural gas. Mediterranean Gas has also begun non-mandatory market testing of the FSRU Argo, which is expected to be completed in 2023. FSRU Argo is a floating LNG interim storage and regasification station with a capacity of 5.2 billion cubic meters. natural gas per year to be installed in Volos. The LNG, which will be transported by ship from various sources to the station, will be regasified, enter the national gas system, and from there via pipelines to North Macedonia, Romania, Bulgaria, Albania, and also to Italy through an expanded connection with Greece. .