Petroleum group Motor Oil aims to launch a market test for its “Dioryga Gas” FSRU project, 1.5 km southwest of the company’s refinery in Korinthos, west of Athens, by November, as just one pending issue, approval of project guidelines by RAE, the Regulatory Authority for Energy, now remains before the test can be staged.
The market test will be staged to measure the level of utilization interest in this floating unit by potential users.
Motor Oil anticipates the FSRU, promising to offer yet another natural gas entry point to the domestic system, can be launched by the end of 2023.
The market test will be conducted over two stages, an initial round of non-binding offers reserving FSRU capacities, followed by a second round of binding offers.
Besides the project’s commercial matters, progress is also being made on the technical front. The project’s Front End Engineering Design (FEED) plans are expected to be completed early next year, while the infrastructure’s environmental licensing procedure is in progress.
The FSRU is planned to feature four LNG storage tanks with a total capacity of between 130,000 and 180,000 cubic meters, as well as a regasification unit with a capacity of 300-500 cubic meters per hour for an annual regasification capacity of 2-3 bcm.
The unit is also planned to be hydrogen-compatible.