Τρίτη 22 Μαΐου 2018
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Greek Energy Forum Newsletter, 22nd January 2018

 

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Greek Energy Forum Newsletter, 22nd January 2018

The leaders of of Cyprus, France, Greece, Italy, Malta, Portugal and Spain, or so-called “Club Med,’ convened in Rome on January 10 for the fourth Summit of the Southern European Union countries.

Cyprus’ President Nicos Anastasiades discussed energy issues with French President Emmanuel Macron and Italian Prime Minister Paolo Gentiloni. Currently, Italian energy major ENI and France’s Total are drilling for natural gas in Cyprus’ exclusive economic zone (EEZ).

Also in Rome, Greek Prime Minister Alexis Tsipras and Gentiloni reportedly discussed energy cooperation, including the Trans Adriatic Pipeline (TAP) that will bring Caspian gas to Europe. Greece and Italy will also be partners if Russia’s Gazprom proceeds with plans to construct the second branch of the Turkish Stream gas pipeline to Europe.

However, prospects for bringing gas from the East Mediterranean to Europe as well as building the second branch of TurkStream are still a long way off. So far, no company has committed to the former and it not yet clear if such a project would ever be commercially viable, while the latter’s prospects could be adversely impacted by potential new sanctions by the United States against the Russian oil and gas sector.

Cass Business School - City, University of London the Costas Grammenos Centre for Shipping, Trade and Finance and the Cass Energy and Commodities Society have the pleasure to invite you to a conference on New Energy Challenges and Opportunities on Thursday 22nd February 2018, starting at 6.15pm.

The keynote speaker will be Mr Nazim Osmancik, Director of Fundamentals, Centrica. The event will be held in the Auditorium (Room LG001), Cass Business School, 106 Bunhill Row, London EC1Y 8TZ. The event is free of charge and will be followed by a short networking reception on the School premises.

Hope to see you all there!

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Policy & Regulation

Brussels raises concerns over competition in local energy market

The European Commission has identified a series of problems and delays concerning competition in Greece’s energy market. Among others, it refers to an existing natural gas supply agreement between PPC and DEPA; the electricity supply market; new flexibility remuneration mechanism; etc. (energypress)

EU lignite talks lead to new framework for CATs in Greece

The European Parliament will vote on a matter concerning support for lignite-fired power plants operating in EU member states, this month. It is of concern to electricity production in Greece as it is linked to a permanent CAT mechanism plan to be delivered by local authorities to the European Commission in March. (energypress)

Major energy sector changes expected in 2018

Big changes are expected to the Greek energy sector’s major fronts – electricity, natural gas, renewable energy and hydrocarbons. The government is expected to have finalized a national energy plan within the year, officially presenting the direction of policies pursued. (energypress)

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Oil & Gas

ELPE considering DESFA repeat for DEPA privatization

ELPE (Hellenic Petroleum) is considering placing for sale its 35 percent stake in DEPA, the public gas corporation, along with the Greek State’s bailout-required sale of its 65 percent share of the utility, which would represent a repeat of the ongoing sale effort of the natural gas grid operator DESFA, a wholly owned DEPA subsidiary. (energypress)

Further steps taken with ELPE, DEPA privatizations

Procedures leading to the bailout-required energy-sector privatizations of ELPE (Hellenic Petroleum) and DEPA (Public Gas Corporation) have taken further steps following the Government Council for Economic Policy’s approval of a plan by TAIPED, the state privatization fund. (energypress)

At Rome ‘Club Med’ summit, Greece gets a line on TAP gas to Italy

As heads of state and government of Cyprus, France, Greece, Italy, Malta, Portugal and Spain, or so-called “Club Med,’ convened in Rome on January 10 for the fourth Summit of the Southern European Union countries, Cyprus President Nicos Anastasiades reportedly discussed energy issues with French President Emmanuel Macron and Italian Prime Minister Paolo Gentiloni. (New Europe)

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Power Markets

Establishment of energy exchange in Greece seems very imminent

The institutional framework for the establishment and operation of the Greek energy exchange has been sent to the Greek parliament. The implementation of the energy exchange will replace the current model of operation and it will have three main objectives. Firstly the harmonization with all European markets, secondly to ensure lower costs for the consumer through greater transparency and competition and finally ensure security of supply. (Balkan Green Energy News)

Greek PPC says it is close to acquire leading electricity trading company in FYROM

PPC is looking to acquire EDS, an electricity trading firm based in FYROM, with a portfolio of 320MW that represents 40% of the local market. This is seen as part of a wider effort from PPC to enter neighbouring markets in order to offset the market share that is expected to lose as part of the bail-out agreement. (Balkan Green Energy News)

DG Comp updates on PPC staff, mine licenses, facility sharing

Last week DG Comp updated energy ministry officials on comments provided by prospective investors during December’s market test. The comments regarded the inclusion of the Vevi mine in the sale package, lignite unit personnel, mining licenses and the ability of PPC and prospective buyers to share facilities associated with units being placed for sale. (energypress)

Market troubled by NOME term proposals, still vague

It has not yet been clarified yet by RAE whether electricity export restriction will be imposed on participants at the next NOME auction set to take place on the 7th of February. According to RAE’s plans 50% of the electricity purchased by any participant should be supplied to the domestic market; the amount is set to increase to 70% in the second half of the year. (energypress)

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Renewables

Tesla looking to establish R&D base in Greece

US Silicon Valley giant, specializing in electric cars, energy storage and solar panel manufacturing, has been engaged in talks with Greek government officials to examine the prospect of establishing an R&D centre in Greece. Investment decisions have yet to be taken, as the US giant is hoping to secure the best possible operating conditions before pursuing any plans. Greece’s R&D sector has been subdued in recent years as a result of a lack of funding and mass exodus of young scientists. (energypress)

Chinese, US investors buying Greek Euroenergy RES interests

Euroenergy, Libra Group’s company handling renewable energy investments in Europe, is selling a portion of its Greek RES interests. A Chinese firm and a US fund are believed to have secured the company’s for sale PV and wind energy units accordingly. Libra Group, which intends to hold on to about one third of its local PV interests and one quarter of wind energy units, is expected to use the proceeds of the sales to cover loans. (energypress)

PPC Renewables aiming for development of 700 MW in 2018-19

PPC Renewables (PPCR), a wholly-owned green energy subsidiary of Public Power Corporation, the main power utility in Greece, aims to develop 700 MW in RES capacity over the next two years, primarily in the wind and photovoltaic energy domains. PPCR has announced that it will start with 18 wind and small hydropower projects totalling 90 MW and budgeted at 114 million euros. The firm is also planning to develop geothermal facilities on the island Santorini as joint projects with the local municipality. A tender staged by PPC Renewables in search of a strategic partner to co-develop geothermal fields in Methana, Lesvos, Nisyros, Milos, Kimolos and Polyaigos is currently in progress. (energypress)

PPC Renewables is looking for partner for Greek biomass CHP plant

Greek PPC Renewables (PPCR) issued an invitation to submit an expression of interest for the selection of a strategic partner to build and operate biomass combined heat and power (CHP) in Amyntaio, region of Western Macedonia, Greece. PPCR has commenced developing a power plant project with an intention to construct Greece’s largest biomass CHP plant in Amyntaio in order to provide 25MWe of electricity and 45MWth of heat. (Balkan Green Energy News)

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Shipping

Greek shipowner newbuilding appetite continues with $1.4bn contracted in 2018

Greek shipowners continue to be in the forefront of the newbuilding market for 2018 as well since from the beginning of the year they have contracted almost 25 vessels of different ranges which worth almost $1.4bn. Contractors include TMS Cardiff Gas which ordered a 174,000 CuM LNG with an option of one more in a deal that could reach $500m, Peter G Livanos-backed, GasLog that contracted one 180,000 CuM LNG for a speculated price of $197m and Harry Vafias-led StealthGas which is linked to an order for a pair of 80,000 CuM VLGCs at Hyundai Heavy Industries (HHI). On the tanker side, Evangelos Pistiolis’ Central Shipping group is linked to two suezmax tanker orders with options for two more that will cost around $60m each and Enesel / NS Lemos contracted a fourth 320,000dwt VLCC which is said to have cost just over $80m. (Seatrade-maritime)

Tsakos Energy Navigation Announces The Sale And Leaseback Of Two Suezmax Tankers

As an aftermath of Tsakos Energy Navigation Limited vessel renewal program, the company continues to sell and purchase vessels as a part of its strategic plan in order to enhance its liquidity and maintain the modern standards of its ships. Therefore, two Suezmax tankers were sold for a gross amount of $65.2 Mln through a five-year sale and leaseback transaction that will assist in reducing the debt and increase the company’s cash balance. (Hellenic Shipping News)

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New Energy Challenges and Opportunities |GEF Affiliate Event

Cass Business School - City, University of London the Costas Grammenos Centre for Shipping, Trade and Finance and the Cass Energy and Commodities Society have the pleasure to invite you to a conference on New Energy Challenges and Opportunities on Thursday 22nd February 2018, starting at 6.15pm

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Knowledge Partnership with Natural Gas World

The GEF is happy to announce the commencement of an exciting knowledge partnership with Natural Gas World. Natural Gas World is an independent specialized website dedicated to bringing you the most essential, accurate and reliable information on global gas matters.

GEF Internship Programme Launched

The Greek Energy Forum is delighted to announce the launch of the Internships Programme and would like to invite students and recent graduates to submit their CVs as a range of internships across Europe will be soon available in our partner companies as well as within GEF.

Please send your CV and cover letter to info@greekenergyforum.com quoting “Internship Programme - CV” on the subject, and include your availability to start, current location and flexibility to travel and preferred type of employment (part-time/full-time).


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The Greek Energy Forum newsletter is brought to you by our team of subject-matter experts: Martha Tallas (Oil & Gas), Loukas Botsis (Gas & Power), Athina Sylaidy (Enviroment & EU Policy), Kassiani Savvopoulou (Shipping), Leonidas Kanonis (Renewables). We are always keen to receive your feedback, so please do not hesitate to contact us at info@greekenergyforum.com.

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