Τρίτη 26 Σεπτεμβρίου 2017
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«Υπήρξεν έτι το άριστον εκείνο, Ελληνικός— ιδιότητα δεν έχ’ η ανθρωπότης τιμιοτέραν· εις τους θεούς ευρίσκονται τα πέραν»
- Κωνσταντίνος Καβάφης, «Επιτύμβιον Aντιόχου, βασιλέως Kομμαγηνής»

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Greek Energy Forum Newsletter, 24st August 2017

 

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Greek Energy Forum Newsletter, 24st August 2017

On 19th of July, the MOU on the implementation of a bi-directional Vertical Gas Corridor signed in Bucharest by representatives of Bulgaria’s Bulgartransgaz, Greece's DESFA, Hungary's FGSZ and Romania's Transgaz. In the meantime the Italian-French consortium has started drilling in the block 11 of the Cypriot EEZ earlier this month while the Turkish government does not seem content with the development.

In latest power market developments Greek authorities have provided Brussels with their proposal regarding the sale of 40% of PPC’s lignite fired units. The sale plan put together in cooperation with consulting firm Lazard and McKenzie includes a single set of units and does not include any alternatives. On EU level several, Renewable Energy Sources (RES) associations contended that abolishing priority dispatch rights for RES units at this stage would jeopardize the sector’s growth.

In the Greek Shipping industry during the last few months, Greek ship-owners have become much more active in placing new orders and acquiring second hand vessels, especially in the tanker sector, foreseeing better days for asset play and rates.

Finally on GEF-related news, we are very proud to announce the commencement of an exciting knowledge partnership with Natural Gas World. Click here to find out more about this exciting development.
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Policy & Regulation

European RES associations call for priority dispatch right maintenance

Ten European RES Associations stressed that most EU electricity markets are not ready for direct RES participation. Consequently, the RES associations contended that abolishing priority dispatch rights for RES units at this stage would jeopardize the sector’s growth. The Associations called for the European Commission to maintain priority dispatch rights, for the time being. (energypress)

Brussels requests joint auctions for wind, PV capacity

Greece’s energy ministry prepared a RES auction plan, based on RAE (Regulatory Authority for Energy) proposals. Therefore, a series of European Commission responses have called for a jointly staged auction procedure involving both wind and photovoltaic energy installations. Greece’s energy ministry pointed out that separate PV and wind energy auctions should be staged until at least 2019. At the same time a hybrid plan is under discussion. (energypress)

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Oil & Gas

French-Italian consortium hunts energy, Cyprus ignores Ankara’s warnings

Drilling has commenced in Block 7 of Cyprus’s Exclusive Economic Zone (EEZ) by the consortium of France’s Total and Italy’s ENI. In the midst of threats from Ankara the French Minister of Armed Forces has visited the island for the first time on the 17th of July. (New Europe)

Companies from Bulgaria Greece Romania and Hungary sign memorandum on Vertical Gas Corridor

GOn 19th of July, the MOU on the implementation of a bi-directional Vertical Gas Corridor signed in Bucharest by representatives of Bulgaria’s Bulgartransgaz, Greece's DESFA, Hungary's FGSZ and Romania's Transgaz. This agreement strengthens future cooperation for building the necessary gas pipeline system to transport natural gas to the transit countries and the European market from Greece via Bulgaria, Romania and Hungary as well as in the opposite direction. (bnr)

Gazprom starts TurkStream 2 natural gas pipeline preparations

On Wednesday, Gazprom’s Spokesman stated that the Russian Company has begun carrying out preparations for the laying of the second string of the two-line TurkStream natural gas pipeline to Turkey; at the same time, he denied a report in a Russian newspaper that pipe-laying in the Black Sea for the second string had started. (Platts)

Bulgaria warns EU is becoming over-dependent on gas transited via Turkey

As Gazprom is performing preparatory work for the installation of pipes for the second thread of Turkish Stream, Bulgarian Prime Minister Boyko Borrisov warns that EU is becoming over-dependent in energy supplies from Turkey. In this context, he requested from European Commission permission to start negotiations for a pipe directly to Bulgaria. (Euractiv)

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Power Markets

No alternatives included in Greek lignite-only PPC unit sale proposal

Brussels received last week the Greek plan regarding the sale of 40% of PPCs lignite fired units. Greek officials seem to have brought forward a single proposal (with no alternative proposals) including, Meliti I, the licence for the planned Meliti II and Amynteo units. These units represent 36% of PPC lignite fired capacity and exclude Megalopoli and Ptolemaida V which is currently under construction. (energypress)

High NOME prices a setback for retailers, eyes on October

NOME auction prices were led to unsustainably high levels in the face of expectations for adverse market conditions around Europe that could lead to significant increases in wholesale power prices. This outcome should subdue competition in the retail electricity market for the next few months until the next NOME auction due in October. (energypress)

Athens, Brussels working on two-type flexibility mechanism

Athens and Brussels are working closely on the design of a new competitive flexibility mechanism for electricity producers. The new mechanism is most likely to bring forward two competitive products to deliver the required system flexibility of 4GW per year. (energypress)

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Renewables

EIB loan for three new wind farms in Greece

The European Investment Bank (EIB) has approved a loan for the development of three wind farm projects in Viotia, a region in central Greece. The projects will be delivered and operated by Terna Energy Company and they will have a total capacity of 48.6MW. (Balkan Green energy News)

PPC Renewables planning two major projects in west Macedonia region

PPC Renewables is planning to develop two of the Greece’s biggest RES projects in northern Greece’s west Macedonia region. Under the ongoing discussions two prospective projects are being considered; the first project would be a biomass unit with 25MW electrical and 45MW thermal capacity, and it would be the biggest biomass project in Greece. The second project concerns a 200MW PV park, which is a revival of an older business plan that has remained stagnant for years. (energypress)

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Shipping

TOP Ships Inc. Announces Joint Ventures and New Vessel Employment

Greek ship-owning company TOP Ships Inc. has come into an agreement for two joint ventures with commodities trading house Gunvor Group. The deal, which is on a 50-50 basis, involves the two 50,000 dwt product tankers M/T Eco Holmby Hills and M/T Eco Palm Springs. The vessels are still under construction and are expected to be delivered in the first half of 2018. Once operational, both tankers will commence a time charter employment with Clearlake Shipping, a subsidiary of Gunvor Group, for three years firm plus an option of two more years. Expected gross revenue of these contracts is estimated to c. $55 million and the Company’s CEO Evangelos Pistiolis mentioned that he foresees a lot of benefits from any similar synergies that will be created in the future. (Hellenic Shipping News)

DSME Bags 4 VLCCs Order from Angelicoussis

South Korean shipyard Daewoo Shipbuilding has secured a second mandate from the Greek shipping firm Maran Tankers Management (MTM), which is a subsidiary of Angelicoussis Shipping Group, in order to construct four VLCCs. Vessels are scheduled to be delivered by the end of Q3 2019, total cost is estimated to be at c. $300 million and their specs include eco-friendly design and fuel-efficient engines. This is the second order made from Angelicoussis Shipping Group to Daewoo, following the one in April for three VLCCs. (Marine Link)

Greek shipowners' interest in new vessel orders, second-hand market surges over recent period

During the last few months, Greek ship-owners have become much more active in placing new orders and acquiring second hand vessels, especially in the tanker sector, foreseeing better days for asset play and rates. More specifically, Angelicoussis Group new VLCC orders include the installation of scrubbers on the vessels, a move that was followed by Almi and the Onassis Group's Neda Maritime, in order to meet the carbon emissions regulations. Clarksons recently stated that Angelopoulos Group as well as Evangelos Pitsiolis have placed new order for 19 new vessels and 4 newbuild tankers respectively. Likewise, Metrostar Management placed an order for two additional aframaxes in Daehan Shipbuilding. (Naftemporiki) 

 

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Energy Union Future Leaders

Under the auspices of Maroš Šefčovič, Vice-President, Energy Union, European Commission

Brought to you by the Greek Energy Forum and the Energy & Environmental Policy Laboratory of the University of Piraeus

Athens, Greece - tbc. 2017 

 

GEF Elections Announcement

According to the Law and the Constitution of the Organisation, regular members which have paid their membership fee and are in good standing by 22/08/2017 are invited to an election General Assembly, which will be held on 03/09/2017, on Sunday at Greece time 13:00, via teleconference, in order to decide on the following agenda items: 

AGENDA:

Brief presentation and approval of the delivered actions of the outgoing interim Management Committee 

and brief presentation of the overall achievements of the Organisation, since its founding and until 22/08/2017.

Presentation and approval of existing financial statements and items. 

Election of the new Management Committee 

Release of the members of the outgoing Management Committee from any liability 

We would like to inform you that due to problems of technical nature, the submission deadline for candidacies for a post in the new Management Committee – as per the email notification publicly communicated on 10/06/2017 – is now extended. The new deadline is 30/07/2017. 

Nannuka UK - Discount for GEF members

We are delighted to introduce to you Nannuka UK, a Greek company that specialises in connecting parents with childcare providers now expanding its services in London. 

We have secured a special 20% discount for Nannuka’s Premium Package exclusively for GEF members. 

Please check our Member section for the promo code to claim the discount. 

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 experts: Martha Tallas (Oil & Gas), Loukas Botsis (Gas & Power), Athina Sylaidy (Enviroment & EU Policy), Kassiani Savvopoulou (Shipping). We are always keen to receive your feedback, so please do not hesitate to contact us at info@greekenergyforum.com.

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