For the first time EGL has delivered an LNG (liquefied-natural-gas) cargo to
Greece. The cargo was unloaded recently in two discharges at Greece's LNG
terminal, located on the island of Revithoussa, west of Athens. EGL's first LNG
delivery to the Greek natural gas market is a further step in expanding gas
activities in South East Europe.
Markus Brokhof, Head of the Gas
Supply & SEE division and Member of Executive Management of the EGL Group,
says: "Besides the Greek electricity market, we are also planning to grow
sustainably in the gas market over the next years. With the LNG cargo EGL has
laid a first cornerstone in Greece for further successful supply of the growing
Greek gas market."
"EGL can provide wholesale customers such as power
plant operators and industrial clients with gas products tailored to their needs
- we are benefiting from our local presence in the power sector,” says George
Peponis, Managing Director of EGL Hellas. Greek natural gas consumption is
mainly driven by electricity generation. Greece imports most of its natural gas
via its pipeline connections with Bulgaria and Turkey. In addition, Greece has
been importing LNG via the Revithoussa terminal since 1999, primarily under the
long-term contracts of the public gas corporation DEPA. Since 2010, Revithoussa
is also open for other companies importing LNG into Greece.
LNG is
natural gas which is turned into liquid by cooling it to around -160°C. Its
volume in this aggregated state is around 600 times lower than in the gaseous
form. Large quantities of natural gas can be stored in this state and
transported by ship. The reduction in volume makes LNG cost efficient to
transport over long distances by specially designed LNG tankers where pipelines
do not exist. At the point of use LNG is re-gasified and distributed as natural
gas via pipelines.