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SNAM to strengthen itself in Greece on the regasification market and to focus on the hydrogen sector

September 09, 2020


Abstract : ​The subsidiary Desfa is ready to join the group which is going to build the terminal in Alexandroupolis. The project will be started within 2023 and will be designed and managed by Gastrade. The aim is diversifying the gas supply, which today mainly depends on Turkey.

MILAN, Sept. 8 (Class Editori) - SNAM is ready to further expand on the Greek market and the Mediterranean area. The subsidiary Desfa, the Greek operator of gas infrastructures, would be ready to join a project addressed at building an LNG FSRU terminal (a floating storage regasification unit) in Alexandroupolis, in the Northeast part of Greece. In particular, according to MF-Milano Finanza, Desfa would be on the verge of becoming the fifth member of Gastrade, the company which will develop and manage the first FSRU terminal of private initiative in Greece, and composed by the Greek industrial group Copelouzos (already partner of SNAM in Senfluga, together with the Spanish Enegas and the Belgian Fluxys).

The project Alexandroupolis LNG is worth about €380 million in overall and should be started by the beginning of 2023, by allowing Greece to diversify the gas supply, which is currently mainly related to the passage on the Turkish territory (imports from the Revithoussa terminal, controlled by Desfa, are excluded). The project is supported by the government, due to the fact that, among the others, it will be able to foster the economic and political stability, as recently stated by the American ambassador in Athene, Geoffrey R. Pyatt.

In industrial terms, instead, the participation in the terminal project will allow Desfa to promote its know-how and its key operator role in the Greek gas market, while for SNAM it may represent the right occasion to reinforce its position in the Mediterranean Sea and along the Southern Corridor. Moreover, during a growth scenario, considering the increase in LNG demand in Greece and in the Balkan area: in 2019, the LNG volumes imported through the only Greek terminal (Revithoussa) amounted at 2.8 billion cubic meters (+100% y-o-y) and the whole capacity has already been reserved for 2020. In the Balkans, the LNG consumption may reach 35 billion CBM (+10% over 2017).

However, the plans of the group guided by the CEO Marco Alverà are not only limited to the LNG development but also to the hydrogen one. An effort which has been appreciated by the Minister of the Economic Development- Stefano Patuanelli- who, during his speech at the Forum Ambrosetti has thanked "Alverà for the work he is doing", by underlining that "the hydrogen issue may be a decisive factor of how to make business, carry out the productive activity and the energetic transition". Therefore, according to Patuanelli, "at a European level, we must have the strength to let people perceive that Italy might be a large gas, research, development, transport and hydrogen storage hub, by linking Africa with the rest of Europe". (All rights reserved)

(Source:Class Editori)

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