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HomeLNGGreece approves construction of new FSRU off Corinth

Greece approves construction of new FSRU off Corinth

Greece’s development ministry approved the construction of a floating gas and regasification unit (FSRU) off Corinth, a strategic investment worth almost 340 million euros. This new terminal will be developed by Motor Oil off its oil refinery where the gas will be either regasified and exported through the country’s gas grid or shipped via vessels and trucks.

Four distinct sections will be built, two of which will be hydrogen-ready, as with minimal modifications they can also be used to transport hydrogen.

“Today we approved a very important strategic investment that strengthens the transition of our country into an energy hub of the Eastern Mediterranean and Eastern Europe,” said the Minister of Development and Investments, Adonis Georgiadis, underlining that with such big investment, Greece will also ensure cheaper energy for Greek consumers.

Also, the Deputy Minister of Development and Investments, Nikos Papathanasis emphasised how the new terminal will help strengthen Greece’s energy security and energy independence, a step that he defines as necessary under the current circumstances and the ongoing energy crisis.

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