LNG

Registro Italiano Navale (RINA), the Italian maritime classification society, and the Italian Asprofos oil and gas design consultancy, have been awarded a contract to help manage the deployment of a floating LNG terminal being developed in eastern Greece to supply the Balkans region.

RINA, based in the port of Genoa, and Greek consultancy Asprofos, have secured a contract to provide project management consultancy (PMC) services for the Alexandroupolis Independent Natural Gas System (INGS) venture, controlled by the Greek Company Gastrade SA.

Main shareholders in Alexandroupolis FLNG project include Gastrade Chairwoman Elmina Copelouzou, Greek shipping company GasLog, Public Gas Corporation of Greece (DEPA) and the Bulgarian gas company Bulgartransgaz.

The project is aimed at increasing security and diversification of gas supplies in the whole region of Southeast Europe.

It will consist of a permanently moored floating storage and regasification unit (FSRU) and a pipeline system of 28 kilometres connecting the floating unit to the Greek National Natural Gas Transmission System (NNGTS).

The FSRU will be stationed in the north-eastern part of the Aegean Sea and about 17.6km from the costal Greek town of Alexandroupolis.

Vessel capacity

The GasLog vessel will have a storage capacity of 153,500 cubic metres, a nominal gas send out rate of 625,000 cubic metres per hour and a peak gas send-out rate of up to 944,000 m³ per hour.

A statement noted that the Alexandroupolis project is being financed through the joint venture’s own resources with co-financing from public funds, the National Bank of Greece and shareholder equity.

Public funds will be provided through the Greek Public Investment Programme, partly through national participation and partly through the European Regional Development Fund (ERDF).

“This terminal is a fast-track project, with the FSRU scheduled to be online by the end of 2023,” said the contract winners.

“RINA and Asprofos will make sure that the contractual requirements of the project in terms of expected performance, quality, safety and planning are met,” they added.

“As well as supporting the owner on technical and managerial planning and oversight the two partners will act as an interface, through a multidisciplinary team of experts covering the different needs of the project,” they stated.

RINA view

Leonardo Brunori, Executive Vice President Energy at RINA, said the society was pleased to be involved in a project crucial to the security of European energy supplies.

“Recent events have highlighted the danger of relying on a single country for our energy needs. RINA has a long and proud track record of delivering FSRU and LNG projects globally having worked on over 200 in the last 15 years,” Brunori noted.

“We look forward to working together with Asprofos to deliver this strategically important terminal enabling Europe to further diversify access to energy,” he added.

Dionysios Belekoukias, Managing Director at Asprofos, said his firm was glad to be working with RINA on such an important project.

“We were awarded the contract because of our combined strong technical competencies. Over the last 35 years Asprofos has gained extensive experience in the natural gas sector having been involved in all phases of the majority of the National Natural Gas System of Greece, including the LNG Terminal in Revithoussa,” explained Belekoukias.

“We have also been actively involved in most of the natural gas projects which have been implemented or are under development in Greece such as Trans-Adriatic Pipeline (TAP), the IGI Poseidon Pipeline, the East Med Pipeline, covering engineering, environmental, permitting, project management, construction management and supervision services,” he added.

Two Balkan natural gas and utility companies, Albania's Albgaz and Bulgaria's Overgas, have signed an accord to cooperate on projects to diversify supplies in the region at an event attended by former US Secretary of State Mike Pompeo.

Pompeo attended as the Chairman of US company Linden Energy’s Advisory Board. Linden has agreed to take a 50 percent stake in Overgas subject to regulatory approval.

The accord outlined the parameters of the planned Albanian-Bulgarian cooperation to secure natural gas from non-Russian sources via commercially viable projects driven by the private sector.

“We are excited to begin working with a fellow regional gas company such as Albgaz. The signing of this agreement is a first step in regional cooperation to diversify gas supply to the Balkans,” said Svetoslav Ivanov, Executive Director of Overgas.

The agreement was signed in the Albanian capital Tirana and representatives of each company attended along with Albanian Prime Minister Edi Rama.

Linden Energy was represented by Stephen Payne, the company's President and company founder and by former Secretary of State Pompeo.

The US company in July 2021 signed an agreement to acquire 50 percent of Overgas, the independent Bulgarian gas trading company and Bulgaria’s largest privately-owned gas firm.

Linden Energy is focusing on energy project development and was founded in 2013 by Payne.

LNG record

“Payne has a history in the international energy sector as he has negotiated over 27 million tonnes per annum of LNG sales, was instrumental in the development of several large LNG export projects in the US and several major international pipelines,” said the statement on the signing event.

It noted that Linden has other projects under consideration in Eastern Europe and South Asia.

Linden Energy is additionally a 10 percent capacity holder in the Gas Interconnector Greece-Bulgaria (IGB) pipeline.

“As one of the only US companies involved in the Balkans gas trade, Linden Energy is excited to take this first step as part of Overgas in partnership with Albgaz,” stated Payne.

Secretary Pompeo said that at a time of great uncertainty in the European energy market he was proud to be a part of a team that is addressing this issue head-on.

“The Balkan region is one of the most vulnerable in terms of the lack of energy diversity and the signing of this accord is a strong step in the right direction,” Pompeo declared.