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Greek Energy Forum Newsletter, 8th January 2018

 

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Greek Energy Forum Newsletter, 8th January 2018

A new year, a new DESFA privatisation agreement? That is what the Greek governments is hoping for as a f the ongoing international tender offering a 66 percent stake of DESFA, Greece’s natural gas grid operator, is is expected to be finalised at some point between late February and early March. If so, the agreement will then require authorization by Greek and European officials, a process that could last up to six months.

The Greek government aims to secure at least 400 million euros in privatization revenues from the DESFA sale. Two participants remain in contention. Italy’s Snam, Spain’s Enagas, Belgium’s Fluxys and Dutch operator Gasunie have joined forces as a consortium for the DESFA tender. Spain’s Regasificadora del Noroeste (Reganosa) is the other contestant and it appears set to join forces with Romania’s Transgaz in an effort to bolster its bidding hopes.

In the meantime, a milestone has been reached for Greece's domestic gas market as the main power utility PPC has taken a major step towards expanding its natural gas supply sources by placing its first order with Prometheus Gas, a Gazprom-Copelouzos group joint venture, for a total amount of 839,500 MWhth in 2018. Until now, PPC has relied on DEPA, the Public Gas Corporation, for its gas needs. PPC’s move follows a number of Prometheus Gas orders made this year by independent electricity producers and industrial enterprises.

Wishing all our readers ad happy and prosperous new year...

...and don't forget to check the GEF website for upcomng events and news all year round!

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Policy & Regulation

European Commission approved Greek auction scheme for renewable electricity

The Greek auction scheme for the production of electricity from renewable sources and high efficiency cogeneration, has been approved by the European Commission. Within this framework, Greece will organize regular, competitive auctions to grant support to renewable energy sources. (balkangreenenergynews)

Greek energy communities draft bill awaits ratification

The Greek Ministry of Environment and Energy has submitted a draft bill, regarding the establishment of energy communities, to the Parliament for ratification. The Ministry aims to encourage switch to renewable energy sources, and to provide decentralized electricity production. (balkangreenenergynews)

Flexibility mechanism offering 750 MW to hydropower plants

The Greek Energy Ministry has submitted to the European Commission a plan for approval, with regards to the participation of hydropower facilities in the new flexibility remuneration mechanism proposing a level of approximately 750 MW. (energypress)

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Oil & Gas

Ionian Sea Block 2 seismic survey no sooner than next November

Seismic survey work planned by a consortium comprised of ELPE (Hellenic Petroleum), Total and Edison at Block 2, west of the Ionian island Corfu, cannot take place until at least the end of autumn next year as a result of a delay by Greek Parliament to approve the agreement. The three-member consortium signed an exploration and exploitation license agreement with the Greek State in late October. (energypress)

Local diesel prices now EU’s 5th highest from 15th a year ago

The price of diesel in Greece has climbed ten places, from the fifteenth highest to fifth in the EU-28. A year ago, diesel prices in the Greek market were marginally higher than the EU average but are now five percent over the common market’s average of 1.243 euros per liter. Auto diesel was priced at 1.186 euros per liter on December 19, 2016 and has now risen to 1.303 euros per liter, a 10 percent year-on-year increase. The sharp price increase of the fuel, prompted by tax increases, has caught many diesel vehicle owners who have switched technologies by surprise. (energypress)

Katakolo 10m barrel estimate a major bonus for Energean

An Energean Oil & Gas hydrocarbon block in Katakolo, off western Peloponnese, has been certified to measure 10.7 million barrels by an independent agency, representing triple the amount of an initial estimate of 3 million barrels made by Greek authorities when staging an international tender for the block. (energypress)

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Power Markets

Major battle seen for liberalized gas market in 2018

The natural gas retail market’s liberalization promises to lead to major changes. Combined electricity-and-gas packages are already being offered by retailers in a local energy market whose natural gas sales have grown from 2.9 billion cubic metres in 2015 to 5 billion cubic meters in 2017. The natural gas market is expected to gain further impetus as a result of the electricity market’s liberalization. Numerous gas market retailers, besides EPA Attiki, covering wider Athens, and Zenith, covering Thessaloniki and Thessaly, are examining the prospect of offering combined electricity-and-gas packages. (energypress)

Major players, seeing Shell exit, consider EPA Attiki role

A number of natural gas market players, closely monitoring developments in negotiations expected to lead to the withdrawal of Shell from retail gas supplier EPA Attiki, covering the wider Athens area, are believed to be keen on filling the void. Shell holds a 49 percent stake in the venture led by DEPA, the public gas corporation, with a 51 percent majority. Any agreement will need to be endorsed by the European Commission’s Directorate-General for Competition. (energypress)

Electricity demand to rise at average rate of 1.2%, IPTO study forecasts

Overall electricity demand in Greece is expected to rebound to record levels reached in 2008 around 2022, a ten-year study covering 2019 to 2028 published by IPTO, the power grid operator, has indicated. But electricity demand is seen rising at an average rate of 1.21 percent over the next decade, the study showed, which is much lower than the 2.17 percent average growth rate registered between 2000 and 2010. (energypress)

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Renewables

Greek energy communities draft bill awaits ratification

The Greek Ministry of Environment and Energy has submitted a draft bill for the establishment of energy communities (cooperatives), aiming to encourage switch to renewable energy sources, and to provide decentralized electricity production. The Ministry’s initiative sees energy communities as a way of decentralize and locally generate energy solutions, and suggests to citizens, local authorities and private and public agencies to participate in the production, distribution and supply of energy. Basically, the draft law gives to electricity consumers a possibility to become electricity producers. (energypress)

A new 28 MW wind park to be installed in Flampouro, Greece

French developer Total-Eren ordered 28MW from Vestas for the Flampouro wind park in northern Greece. With the last order received, Vestas’ total orders intake in Greece reached 250 MW in 2017. The order made by Total-Eren includes supply and installation of two V117-3.45 MW wind turbines and six V126-3.45 MW turbines, as well as a 10-year Active Output Management 4000 service contract, according to the company’s press release. (Balkan Green Energy News)

European Commission approved Greek auction scheme for renewable electricity

Greece will organize regular competitive auctions to grant support to renewable energy sources, since the European Commission approved the Greek auction scheme for the production of electricity from renewable sources and high efficiency cogeneration. Important is that Greece will bring down costs for renewable energy with these competitive auctions to support renewable electricity generation and it will help the country to reach its 2020 climate goals. The first round of auctions, in two separate events for wind and PV, will take place in April this year. (Balkan Green Energy News)

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Shipping

Marinakis Bets $1 Billion on Fuel Rule Upending World Trade

Greek shipowner and chairman of Capital Maritime & Trading Corp., Evangelos Marinakis, claims that during the last 1,5 year he has invested almost $1 Bln in order to comply his fleet consisting of 71 vessels with the new rules for lower sulphur emissions. He trusts that more modern vessels will benefit from these environmental friendly rules, whereas older ones will be sent for scrapping much sooner than expected. His modernization plan consists of the acquisition of new vessels and upgrades of the existing ones which will allow the use of scrubbers and the compliance with water-ballast treatment rules. (Hellenic Shipping News)

Central Shipping eyes comeback to suezmax tanker sector

Evangelos Pistiolis’ company, Central Shipping Group, is expanding after a hush that lasted for eight years with two suezmax tankers on order. The new build vessels are estimated at almost $60Mln each, will be constructed at Hyundai Heavy Industries (HHI) and there is an option for two more order placements. The first tanker is expected for delivery in mid 2019 which implies that Central has bought another shipping company’s contract with HHI as new orders that are placed nowadays have expected delivery dates for after 2020. (Naftemporiki)

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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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