Motor Oil subsidiary submits license request for new Corinth FSRU

Dioriga Gas, a subsidiary firm of Motor Oil Hellas, has submitted an application to RAE, the Regulatory Authority for Energy, seeking a license to develop a new floating storage regasification unit (FSRU) in the Corinth area, west of Athens.

The application also includes a request for the development of an underwater and onshore natural gas pipeline to link the LNG facility with the gas network.

As was noted by Motor Oil Hellas in its annual corporate results, the business plan of Dioriga Gas, founded last June, entails buying, selling, transmitting and distributing natural gas as well as liquefaction and storage role in the local market.

Motor Oil Hellas already maintains a market presence in the natural gas market through M&M, a wholesale trading joint venture also involving the Mytilineos group.