Energy group Motor Oil is expected to wait until the end of summer or early autumn before making an investment decision on the development of its Dioryga Gas FSRU project in Corinth, west of Athens, budgeted at approximately 340 million euros, sources have informed energypress.
Though a market test, staged recently by the petroleum group, proved successful, unclear factors still need to be considered before Motor Oil makes decisions, the sources noted.
Motor Oil requires further clarity on gas grid operator DESFA’s plans for an upgrade of a high-pressure gas pipeline segment from Patima to Livadia, mainland Greece.
During recent consultation on DESFA’s ten-year development plan covering 2023 to 2032, Motor Oil disagreed with this upgrade’s timing, scheduled by DESFA for October, 2027, pointing out the Dioryga Gas FSRU, if developed, is planned to be launched prior to this date, in May, 2025.
Doubled pipeline capacity at the Patima-Livadia segment, unjustifiably delayed, according to Motor Oil, will be needed by the company’s Dioryga Gas FSRU in Corinth.
Furthermore, Motor Oil has reacted against DESFA’s doubled cost, to 19.5 million euros, for the development of a related metering station required for the FSRU’s connection to the gas pipeline network. Motor Oil submitted a request, to the consultation procedure, for this part of the project to be taken on by Ellaktor – a construction company in which Motor Oil holds a stake – under the supervision of DESFA.
Last January, state authorities classified the Dioryga Gas FSRU project as an investment of strategic importance, status offering fast-track licensing.