DESFA Gears Up for Greek LNG Terminal Upgrade
The Greek natural gas network manager company DESFA, has proceeded into announcing an international tender competition for the upgrade of its LNG terminal in Revythousa Island.
The project will see a 115 million Euros upgrade that includes the construction of a third LNG depot able to hold 95,000 cubic meters of LNG. The deadline for the submission of proposals is on the 25th of April and the schedule for completion of the works is estimated at late 2014. The selection of the winner will be made in Early October 2012.
DESFA is boosting the capacity of the terminal is in order to enlarge the nationwide capacity for gas storage in light of increased local and international demand.
At present, Revythousa can supply the Greek system in terms of a total supply cut for up to 3 days. After the upgrade it will be able to do so for 7 days.
Moreover independent suppliers will increase their ability to store LNG at the terminal to 28 days, from the 18 days currently, a factor that should assist in increasing competition and decreasing prices within the domestic market.
The terminal will receive an addition 44 million Euros funding for developing its ship handling installations and modernizing its security systems. The degasification system will boost its capacity by 40% from 1,000 cbm per hour to 1,400 cbm and vessels up to 260,000 cbm will be able to dock, up from 140,000 cbm.
Floating Storage Unit
Additionally, President of DESFA, Georgios Paparsenos, has announced a preliminary feasibility research for the establishment of a FSU (Floating Storage Unit) in Greece.
Talks with international companies specialized in that sector will commence in the coming period. In parallel talks have started with the Bulgarian counterparts for the upgrade of the present day Greek-Bulgarian pipeline that mainly transfers Russian gas into Greece; in order for it to attain reverse flow capability. Thus the Bulgarian market will be also served by the increased capacity of the LNG terminal and the possible FSU unit.
Cyprus Gas Link
Speaking to journalists in Athens, Paparsenos said that should DEPA's plans to link gas from Cyprus and Israel becomes a reality, the company would undertake a further upgrade to double capacity at Revythousa and for certain, it will create at least one FSU unit in Northern Greece, close to the borders with Bulgaria.