Petroleum group Motor Oil aims to begin development of its “Dioryga Gas” FSRU project, 1.5 km southwest of the company’s refinery in Korinthos, west of Athens, by the end of the year. The project’s completion would offer a second southern LNG entry point for Greece.

The ongoing energy crisis throughout Europe highlights the importance of such infrastructure, promising supply diversification and energy security.

Motor Oil officials are now working on the next steps leading to the project’s development following a recent successfully completed non-binding market test, which attracted capacity slot offers well over the group’s target of two billion cubic meters.

A binding second-round market test is currently being prepared by Motor Oil officials, according to sources. The procedure is expected to commence towards the end of the second quarter, once it has been approved by RAE, the Regulatory Authority for Energy.

According to the company plan, an investment decision will follow, either late in the third quarter or early in the fourth quarter, paving the way for the beginning of construction towards the end of the year and an estimated launch in the final quarter of 2023.

The “Dioryga Gas” FSRU project has been included in gas grid operator DESFA’s ten-year development plan covering 2021 to 2030.

Its total capacity is planned to reach 210,000 m3, while regasification is planned at 132,000 MWhs per day and 2.5 bcm annually.