Gas utility DEPA is making arrangements with Algeria’s Sonatrach for a considerable additional LNG order to fill a new third storage tank at the upgraded LNG terminal on the islet Revythoussa, just off Athens, once the facility’s imminent commercial launch is staged.
This LNG shipment, entailing part of a 130,000-cubic meter order, comes as an addition to scheduled deliveries for the winter season’s heightened demand.
DEPA is now awaiting the LNG terminal’s launch, which has been delayed by a few weeks, to proceed with its extra Sonatrach order. The gas utility is keen to move ahead with the order as soon as possible to avoid any price fluctuations in the European energy market, currently volatile.
According to latest estimates, the upgraded Revythoussa terminal is expected to begin operating – commercially – in the second half of December, despite a preceding official launch ceremony, planned for November 22.
The terminal’s new storage tank will offer a 95,000-cubic meter capacity, boosting the facility’s overall capacity to 225,000 cubic meters. The upgrade promises to create new gas export potential to Balkan and southeast European markets.
According to a study conducted by Greek gas grid operator DESFA, the new Revythoussa terminal will be able to cover 30 percent of gas import needs in the Balkans, Slovenia and Hungary.
The US is currently seeking European gateways for shale gas exports. Besides catering to American gas trading interests, the upgraded Revythoussa terminal could, in the medium term, also facilitate gas quantities stemming from rich Cypriot and Israeli sources in the east Mediterranean.