Romania’s Transgaz interested in Greek LNG terminal – CEO

15 February 2018 13:43 Source:ICIS

Romania’s natural gas transmission system operator Transgaz, a partner in a consortium bidding for a stake in the Greek counterpart DESFA, has expressed an interest in the development of the Revithoussa LNG terminal, a piece of infrastructure that would boost the region’s import capacity.

Speaking on the sidelines of the Athens Energy Forum on Thursday, Ion Sterian, Transgaz CEO, told ICIS the expansion of the terminal would contribute to the creation of an integrated north-south transmission corridor and help whip-up market liquidity thanks to attractive LNG terms that are opening up globally.

The onshore terminal is currently adding a third 95,000 cubic metre (cbm) tank which will require additional infrastructure to be built this spring.

The terminal will have a total capacity of 225,000cbm and its send-out will expand from 150GWh/day to 215GWh/day.

When complete, its expanded capacity will be sufficient to cover Greek gas demand for a day, except for periods of peak consumption when demand can reach up to 250GWh/day.

Sterian said Transgaz was also interested in the Caspian gas volumes that are expected to reach Greece, once the EU-backed Southern Gas Corridor is completed by the end of the decade.

“Our interest is to contribute to the development of a regional integrated gas market where LNG and Caspian volumes bring flexibility and security of supply. This is very much in line with the goals set out by the European Commission for the region,” he said.

Transgaz placed a bid together with Spain’s Reganosa, a company with experience in operating LNG terminals for the acquisition of a 66% stake in the DESFA and the consortium has until Friday to make a firm offer.

Transgaz itself would be a key operator in a proposed EU-backed Bulgaria-Romania-Hungary corridor which aims to transport gas from southern to central Europe. The gas could be sourced in Romania, the EU’s third largest producer, or regionally, including Greece via the expanded LNG Revithoussa terminal.

Last September, the Hellenic Republic Asset Development Fund, which oversees the privatisation of state assets, shortlisted Spain’s Reganosa and a consortium made up of Italian Snam Rete Gas, Belgian Fluxys, Spanish Enagas, and Dutch Gasunie, four operators which have experience in operating pipeline and LNG terminals.

Snam, Fluxys and Enagas are among the shareholders of the TAP pipeline which will run through Greece carrying Caspian gas to Italy. aura.sabadus@icis.com

By Aura Sabadus