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Greek Energy Forum Newsletter, 11th December 2017

 

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Greek Energy Forum Newsletter, 11th December 2017

IPTO, the Greek power grid operator, has revised the terms of the tender process regarding a Cyclades islands interconnection project in order to attract interest from non-EU firms that have signed government procurement agreements (GPAs) with the World Trade Organization (WTO). However given the interest of China’s SGCC, owner of 24% of IPTO, for the project, it is unlikely that other international companies would be keen to submit bids. The revised terms concern an interconnection project to link Paros with Naxos and Naxos with Mykonos.

The US Ambassador to Greece, Geoffrey R. Pyatt, recently visited Greece’s LNG terminal on Revythoussa, the islet just off Athens, in anticipation of American LNG exports to Greece. Following his visit to the facility, whose capacity is currently being increased with the addition of a third tank, the US ambassador noted that he hopes the upgrade will “make Greece the third European importer of American LNG,” following Poland and Lithuania.

As the year comes to an end, positive news also emerged regarding the Greek refining sector. HELPE's refinery in Aspropyrgos was ranked as the world’s second best facility in the fluid catalytic cracking (FCC) category, in a study conducted by Solomon Associates, a leading performance improvement company in the global energy industry. The Aspropyrgos unit was rated as a southeast European leader in a number of domains, including production and output availability.

The next issue of the GEF Newsletter will be published on the 8th of January.

We would like to wish all of our subscribers a Merry Christmas and a Happy New Year.

The GEF Newsletter team (Martha, Loukas, Athina, Kassiani & Leonidas)

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Policy & Regulation

EU launches global partnerships to reach climate goals

The EU has launched new strategic partnerships to cooperate more closely with major economies to implement the 2015 Paris Agreement on Climate Change. These include a programme co-financed by the EU’s Partnership Instrument and co-financed by the German International Climate Initiative to advance bilateral cooperation on climate change. (New Europe)

MEPs adopt Energy Union rules

The Industry, Research and Energy (ITRE) and the Environment (ENVI) Committees of the European Parliament voted on rules regulating the working mechanisms of the Energy Union project. The Governance of the Energy Union file sets a framework for Member States to operate and is part of the “Clean Energy for all Europeans” legislative package. (New Europe)

After Dieselgate, EU to tighten rules for safer, cleaner cars

The European Parliament, the Council and the Commission reached a political agreement to significantly raise the quality level and independence of vehicle type-approval and testing, increase checks of cars that are already in the EU market and strengthen the overall system with European oversight. (New Europe)

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Oil & Gas

Greece, Cyprus, Italy, Israel sign MoU for East Med gas pipeline

On December 5, Greece, Cyprus, Italy and Israel signed a memorandum of understanding for constructing an underwater gas pipeline from the Eastern Mediterranean region to Greece and Italy, which will allow the transportation of newly discovered Cypriot and Israeli gas reserves to mainland Europe. (New Europe)

IGB construction, procurement tenders to be announced January

Development of the Greek-Bulgarian IGB gas grid interconnector is expected to commence in mid-2018 as documentation concerning two project tenders, one for construction, the other for pipeline procurement, has been finalized. Both tenders are expected to be announced in January, which would enable the project to begin midway through next year, as ICGB, the project’s consortium, currently plans.(energypress)

With the exception of TAP, Erdogan’s visit to Greece reconfirms diverging energy interests

Turkish President Recep Tayyip Erdogan’s historic visit to Greece on December 7, the first such visit in 65 years by Turkish President, has reconfirmed diverging views between Athens and Ankara on issues concerning the Exclusive Economic Zone (EEZ), Cyprus and exploration for hydrocarbons while both countries remain partners in boosting EU energy security through the Southern Gas Corridor that will transport Caspian gas supplies to Europe, reducing reliance on Russia. (New Europe)

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Power Markets

Older ‘Little PPC’ job security plan adopted for utility’s latest sale effort

The Greek government and the country’s lenders have reached an agreement to secure all PPC jobs for at least five years following the completion of the sale of 40% of the company’s lignite fired capacity. This is job security term is linked to the older plan to sell 17% of the utility (Little PPC) that remained incomplete. (energypress)

PPC market test invitations to target at least 40 firms

A market test process for the sale of 40% of PPC’s lignite fired power station will be organized and 40 firms will be invited to participate. The investors will mainly be energy and electricity companies from Greece, Poland, Czech Republic, the US, Japan and China. Any investor interest from Western Europe would come as a surprise considering the region’s intent to pursue decarbonisation. The sale will need to have been completed by the end of 2018. (energypress)

Flexibility mechanism delayed by insufficient market reforms

The delivery of Greece’s new flexibility remuneration mechanism to the European Commission has been postponed until March. The new flexibility mechanism, which will compensate generators for flexible output, will replace the older CAT payments mechanism that stopped in April. The Commission rescheduled the delivery due to lack of progress in local market reforms. (energypress)

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Renewables

Siemens Gamesa to bring 60 MW wind turbines to three Greek wind parks

Siemens Gamesa Renewable Energy SA (SGRE) announced that it won three orders in Greece for the supply of 60 MW wind turbines for two customers, both independent power producers (IPP). According to the statements issued by both companies, turbines will be delivered in the second half of 2018. SGRE will also provide operations and maintenance services in next 10 years for all three wind farms. SGRE has installed almost 500 MW of its turbines in Greece, of which it maintains 241 MW. (Balkan Green Energy News)

The EU Parliament’s energy committee sets ambitious green energy targets

Industry and Energy Committee (ITRE) of the European Parliament voted on November 28 to reduce energy consumption by 40% by 2030 at EU level. The vote followed that of the EU Commission, which had proposed a 30% reduction. Each EU country will have to set its own corresponding national energy-efficiency targets that are needed to reach the overall reduction goal, which would cover all stages of the energy chain, including generation, transmission, distribution and end-use. In a separate vote, which also took place the same day, Industry and Energy Committee MEPs agreed that by 2030, a minimum of 35% of all energy consumed in the EU would need to come from renewable. (New Europe)

Hospital in Northwestern Greece Nominated for International Energy Award

The state hospital of Grevena city, in northwestern Greece, applying simple and practical energy-saving techniques, managed to cut its spending on electricity, water and heating by 850,000 euros in the four years between 2012 and 2016. The public health institution project, with its successful attitude towards energy-saving techniques and of sustainable energy measures, is part of 2,000 similar ones, globally nominated for the international ‘Energy Globe 2017’ award, the ceremony for which will take place on January 16, 2018 in Tehran, Iran. (Greek Reporter)

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Shipping

Is 2017 a turning point for LNG bunkering?

This year has been a turning point for LNG bunkering with more and more companies, including Greek ones, deciding to install dual-fuel engines on their vessels. Recently, in many cases LNG has been used as a propulsion fuel for large bulk carriers. For example, the Greek shipping company Polaris announced in October 2017 the ordering of 10 LNG-powered very large ore carriers (VLOCs) at Hyundai Ulsan with a capacity of 325,000 dwt each. As a result of the IMO’s forthcoming emission regulations, many other companies have adopted this measure or will do so in the future in order to comply and thus LNG fuel appears to be a very promising alternative for the future. (LNG World Shipping)

Hyundai Heavy wins order to build two VLCCs for Kyklades Maritime

South Korean shipyard Hyundai Heavy Industries is very close to securing a deal for two VLCCs for Greek shipowner Kyklades Maritime Corp., which is expected to be finalised by the end of 2017 and estimated at $163 Mln. Hyundai appears to be also discussing with Greek shipping company TMS Tankers for building LNG carriers. (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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