PPC applies for natural gas supply license, buying LNG

The main power utility PPC has submitted an application to RAE, the Regulatory Authority for Energy, for a 20-year natural gas supply license, a move seen as a response to gas supply licenses already secured by all the country’s independent electricity suppliers preparing to offer combined power-and-gas packages.

This is the latest move by PPC in its effort to diversify its overall market offering. Just days ago, the power utility signed an agreement with Forthnet for an exclusive electricity and telecommunications arrangement.

In addition, PPC last week completed a tender concerning a strategic partnership for LNG supply from the Revythoussa terminal. PPC had called upon investors to express interest for a three-year Master Sale Agreement.

PPC is the country’s biggest LNG consumer. It expects to need at least 0.3 bcm in 2018. The amounts required for 2019 and 2020, to be determined by the corporation’s business plan, are not expected to be less than 300 million cubic meters.

PPC has also staged another tender is search of a consultant to be tasked with preparing a business plan entailing its activities in the natural gas market.