The tender for the underground gas storage in southern Kavala is ‘thawing’

By Harry Floudopoulos

The underground gas storage project has become extremely relevant due to the energy crisis we are going through, as corresponding storage infrastructure across Europe meets the needs of consumers and helps to curb energy costs. In this context, wanting to take advantage of the positive momentum, the HRDH decided yesterday to proceed with the “thawing” of the competition. Specifically, the Board of Directors of the Fund decided to proceed with the publication of the necessary texts for the final phase of the competition. It is noted that a number of regulatory decisions by the Energy Regulatory Authority are still pending, however the HRDH seeks to take advantage of the momentum created by the energy crisis and the need to create new storage facilities for natural gas. It is worth noting that in the tender in which the consortium DESFA GEK TERNA and Energean participate, the VDR has not been opened yet.

The gas storage is planned to be created in the depleted natural gas field of southern Kavala, located in the southwestern part of the Prinos-Kavala sub-basin, at a depth of 52 meters in the North Aegean Sea, about six kilometers from the west coast of Thassos.

The concession will cover a period of up to 50 years after the licensing of the project of the underground gas storage (“YAFA”). The conversion of the underground natural space of the natural gas field “South Kavala” to YAFA will be carried out by the concessionaire within a binding deadline, which will be specified in the concession contract.