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Motor Oil: The first phase of the Market Test for the Gas Canal in Agios Theodoros has been completed

The first phase – non-binding – of the Market Test for the demonstration of capacity commitment at the liquefied natural gas (LNG) terminal (LNG) Gas Canal, of the Motor Oil Group, in Agios Theodoros, was completed with great success, on January 14, 2022. .

As mentioned in the relevant announcement, 15 Greek and international companies submitted an expression of interest. The quantities of Liquefied Natural Gas (LNG) that were committed for all the products sold and for the first five years of operation of FSRU, were more than double the initial estimates of the Group, proving in the most emphatic way the dynamics of this investment.

This is a strategic project, of national and international scope, as it will be a new import gateway that will serve gas consumers throughout Greece and neighboring countries.

The process of the first – non-binding – phase of the Market Test was carried out under the supervision of the Energy Regulatory Authority (RAE).

The project proceeds to the next, binding, phase as soon as it is approved by RAE.

What is the GAS Canal?

The GAS Canal, a member of the Motor Oil Energy Group, is an Independent Natural Gas System (ASFA) infrastructure consisting of a floating terminal for the receipt, temporary storage and regasification of Liquefied Natural Gas (FSRU) located in the southern part of Motor Oil. of Ag. Theodoron Korinthias.

The GAS Canal will be an open and flexible liquefied natural gas import infrastructure.

Source From: Capital

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