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Mediterranean Gas launches Market Test

Date

02 Nov 2022

Sections

Energy

Mediterranean Gas officially launches the market test for the capacity allocation at ARGO FSRU import terminal. Following the approval of the guidelines and the market EoI notice by the Regulatory Authority of Energy, all interested parties, including LNG producers, international traders, large-scale consumers, industrial users, marine and shipping companies locally and internationally, are invited to submit their interest in becoming registered users of the new gate to Europe. 

The ARGO FSRU terminal in Volos, strategically located in the heart of Mediterranean and in the center of the Greek natural gas system, will support the energy security and diversification of the region.

Having completed the preliminary technical and environmental studies, Mediterranean Gas has secured the Independent Natural Gas System license from RAE and has been registered in the register of users of the National Natural Gas Transmission System. The company has already commissioned the preparation of the studies for the finalization of the technical design, as well as the Environmental Impact Study, the results of which will be announced upon its completion, required in the context of the permitting process. The company's goal is for the ARGO FSRU to be operational in the first quarter of 2025.  

The ARGO FSRU in Volos, is an emblematic project that is being developed to contribute to the country’s energy needs and will increase the import and storage capacity across Balkan countries and Southeastern Europe. The regasification capacity of ARGO FSRU will amount to 5.2 bcm of natural gas per year. The LNG that will be shipped from various sources to Volos will be regasified, enter the National Natural Gas System, and transmitted through an axis of cross-border pipelines to North Macedonia, Bulgaria, Romania, Albania, Italy, and the rest of Europe. ARGO FSRU becomes the new energy hub for Greece and Europe.

The project is advancing well to meet the commercial timeline and contribute to the European energy independency.  Our country must immediately conquer its energy security and be shielded from imported energy crises. The ARGO FSRU project greatly supports our energy autonomy and competitiveness, while Thessaly and Volos become part of the international energy map.

The ARGO market test is coordinated by DELOITTE. For more information, please visit www.mediterranean-gas.com 

 

For media enquiries:

Ellie Ilia 

Head of Corporate Commnunications

Mediterranean Gas S. A.

62 Kifisias Avenue | 15125 | Athens

M: +30 6986905622 | T: +30 2100086420

ei@mediterranean-gas. com

 

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