Κυριακή 16 Δεκεμβρίου 2018
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Greek Energy Forum Newsletter, 17th September 2018

 

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Greek Energy Forum Newsletter, 17th September 2018

A long-term LNG supply agreement of between 15 and 20 years has been the main focus of negotiations over the past few months between Greek gas utility DEPA and US energy company Cheniere. DEPA’s recently appointed chief executive Dimitris Tzortzis is seeking a delivery arrangement that would enable the gas utility to not only import gas into Greece but also trade LNG in international markets.

Meanwhile, a third storage tank added to an LNG terminal at Revythoussa, an islet close to Athens, is set for its commercial launch between late October and early November, slightly behind schedule. The new tank, which promises to increase the facility’s overall capacity to 225,000 cubic meters, almost double its previous size, is currently undergoing test runs. The facility’s capacity upgrade represents a pivotal development for the LNG terminal, a key asset belonging to DESFA, the natural gas grid operator, whose 66 percent is being privatized. A consortium comprised of Italy’s Snam, Spain’s Enagás and Belgium’s Fluxys has emerged as the winning bidder.

Congratulations to Greek oil and gas company Energean for being shortlisted in the 'Energy Company of the Year (Small Cap)' category of the Petroleum Economist Awards 2018!

Access for Women in Energy (AccessWIE) is organising a seminar on The Impact of Digitalization on Employment in the Oil and Gas Industry on Thursday 11 October 2018. The discussion will start at 18:30. Networking over drinks and light refreshments will follow.

We are delighted to be able to offer spaces to GEF members to this event by our partner organisation AccessWIE which always aims to have a gender balanced representation in all events. To register, RSVP to wie@crystolenergy.com by Monday 8 October 2018.

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Policy & Regulation

Five EU member states urged to capitalize on building renovation strategies to improve energy efficiency

Within the framework of the EU’s Energy Efficiency Directive, Bulgaria, Croatia, Germany, Romania, and Slovenia have not met all the objectives of Article 4. As result, they will miss the opportunity to deliver an array of benefits through building renovation. (balkangreenenergynews)

Commission scraps tariffs on Chinese solar panels

In line with the EU’s renewable energy goals, on Friday 31st of August, the European Commission decided to eliminate anti-dumping tariffs on Chinese solar panels. As a result, the EU anti-dumping and anti-subsidy measures expired at midnight on Monday 3rd of September, after being in place for five years. (euractiv)

Italy withdraws objections to EU power market reform

On Thursday 13th of September, the Italian Undersecretary for Economic Development, Davide Crippa, announced the country’s withdrawal from an agreement with Poland, France, Hungary, Greece, Ireland and the UK, arguing the preservation of the national sovereignty over decisions to finance emergency power plants. (euractiv)

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Oil & Gas

ELPE Upstream seeking earlier start for Gulf of Patras drilling

ELPE Upstream, a new division established by the ELPE petroleum group, aims to begin drilling at its license in the Gulf of Patras, western Greece, sooner than originally planned, probably in autumn next year, if related licensing procedures and studies are completed ahead of municipal and regional elections next May. (energypress)

Serbia discussed as Italy alternative for East Med project

An alternative route, replacing Italy with Serbia, for the ambitious 5 billion-euro East Med natural gas pipeline, planned to carry southeast Mediterranean natural gas deposits to the EU via Greece, was discussed at a five-way meeting in Thessaloniki last Friday between leading energy-sector officials representing Greece, Israel, Bulgaria, Serbia and the US. (energypress)

Energean first-half EBITDAX up 108.9% to $16.7m

Energean Oil and Gas, the independent oil and gas exploration and production company focused on the Eastern Mediterranean, has posted a first-half EBITDAX figure of 16.7 million dollars, up 108.9 percent from an 8 million-dollar performance a year earlier. The company’s first-half profit before tax was registered at 82.1 million US dollars, up a spectacular 1,965.9 percent from a 4.4 million-dollar loss incurred in the first half of 2017. Operating profit was up 229.1 percent to 10.2 million following a 7.9 million-dollar loss a year earlier. (energypress)

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Power Markets

RAE to impose NOME auction restrictions to counter abuse

RAE intends to implement measures to limit NOME auction abuse by market players and speed up PPC’s retail electricity market share reduction for increased market competition. RAE has noticed an accumulation of futures products disproportionate to customer base sizes and growth rates of certain suppliers and traders. As a result four companies have been summoned for hearings. (energypress)

Brussels considering small deadline extension for PPC sale

Following a request made by China’s CHN that has joined forces with Copelouzos group for the for the PPC sale, Brussels are considering a deadline extension for the second-round binding bids. CHN has submitted 224 queries regarding PPC’s sale of lignite units. Both the ministry and PPC are worried about the rising CO2 costs which may affect the amount bidders may be willing to pay. (energypress)

IPTO carrying on with SPV for Cretan link despite Brussels reaction

Despite objections by the European Commission, IPTO Greece’s power grid operator, is pushing ahead with the establishment of a special purpose vehicle (SPV) named Ariadne Interconnection for the financing and development of Crete’s urgently needed major-scale electricity grid interconnection with Athens. RAE asked IPTO last week to proceed with the aforementioned task but Brussels have questioned RAE’s authority to give such permission. If the project is not completed in time Crete faces an increased risk of power shortages from next year onwards. (energypress)

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Renewables

Leftover RES auctions to be offered for PV, wind, before end of year

RAE, the Regulatory Authority for Energy, plans to stage a second round of RES auctions towards the end of 2018 offering wind and solar energy capacities left over from a first round staged in the summer. A total of approximately 193 MW for photovoltaic parks and 129 MW for wind energy parks still need to be offered in 2018 following the summer RES auction, staged on July 2. However, auction terms could be revised to prevent single companies from securing overwhelmingly large capacities. This is a concern in the PV category. (energypress)

SolarPower Europe expects a surge in solar panel deployment coming from China

The Brussels-based industry association expects a major solar deployment surge across Europe, now that the EU’s trade measures on solar panels from China have expired. The European Commission decided not to extend the anti-dumping and anti-subsidy duties further to September 3 (expiry date), a move that followed the US protectionist tariffs on solar panels manufactured both in China and Europe. The expectation from EU officials and recent studies is that lifting the trade measures could result in the creation of thousands of jobs and help the EU to fulfil the new renewable energy targets set for 2030. (BalkanGreenEnergyNews)

Greek PV groups seek sustainable tariffs for units up to 500 MW

Two local photovoltaic groups have called for the establishment of a new mechanism offering steady and sustainable electricity generation sale prices for new PV installations with capacities of up to 500 MW. The two industry groups submitted a join request to the energy ministry as low tariffs offered through the current procedure seem to be keeping investors away. (energypress)Thumbnail Shipping Transportation

Shipping

Angelikoussis’ Maran Tankers Awards Contract For Installing Marine Scrubbers And Ballast Water Management Systems On 13 Ship

Maran Tankers has assigned Sembcorp Marine the task to retrofit 13 of its vessels with scrubbers and ballast water management systems. Four of the vessels that will be fitted with scrubbers and BWS between Q3 2018 and Q4 2019 are Suezmax tankers and the other nine vessels are VLCCs that will be fitted with scrubbers between Q2 2018 and Q1 2020. The whole retrofitting procedure will take place at Sembcorp Marine’s Tuas Boulevard Yard and Admiralty Yard. The Maran project is deemed as the biggest green technology retrofits contract that Sembcorp Marine has won so far. (Hellenic Shipping News)

Star Bulk to Equip Entire Fleet with Scrubbers

The greek shipping company Star Bulk Carriers has announced its intention to install its whole fleet with exhaust gas cleaning systems by the end of 2019 when the new sulfur emission regulation will come into effect. The company estimates that the average cost per vessel will be below $2 Mln. The cost will be covered by circa 70% from debt financing and the rest from operating cash flow while contracts have already been secured with shipyards in order to complete these installations.(World Maritime News)

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GEF and the United Nations Economic Committee for Europe (UNECE)

For its third year as a member of the Group of Gas Experts of UNECE, Alexandros Lagakos had the pleasure to represent the Greek Energy Forum and to present within the imposing building of UN Palais De Nations in Geneva on the topic of global LNG trading and optionality.

The presentation highlighted to UN delegates that in 2017 the Mediterranean together with China were the two places in the world that massively outperformed forecasts in regards to their actual LNG imports. Med countries - and within them Greece - deserve more attention by the global LNG industry and this is a message that we as Greek Energy Forum are working hard to convey to our international audience.

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Partnership announcement - Enalytica

The Greek Energy Forum (GEF) has the privilege to announce its partnership with enalytica and to share with you the product of their valuable collaboration.

From now on, the “GEF Reality Check” report, which is distributed quarterly to all our members and followers, will be accompanied by a succinct and very insightful data dashboard, particularly compiled and customized for GEF by enalytica.

Enalytica is a US-based energy advisory firm that has worked with governments, state- owned enterprises and private firms to advance major energy projects. Its goal is to leverage data and technology to facilitate decision-making in the energy space.

Enalytica and GEF have joined forces to increase energy data transparency and raise international awareness on the Southeastern European and Eastern Mediterranean region.

Their objective is to gradually expand the scope of the existing market report and cover more and more national markets within the broader region.

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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