Τρίτη 13 Νοεμβρίου 2018
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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, 29th October 2018

 

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Greek Energy Forum Newsletter, 29th October 2018

Energean Oil and Gas plans to install a new platform at its Prinos oil fields, the area’s first since 1979, at the end of 2019, once its construction is completed by Romanian company GPS, an old Energean associate, at its Costanta facility on the Black Sea coast. “Lamda”, as the new platform will be named, will be installed over two digs at the Epsilon oil field, now the focus of Energean’s efforts at its offshore Prinos basin. The first drilling venture, planned for early in 2019, will be conducted by Energean Force, Energean’s owned and operated offshore drilling rig.A second Energean drilling operation at the Epsilon oil field, entailing as many as three exploratory efforts, is planned to take place later on in 2019, prior to the arrival of the new “Lamda” platform from Costanta. This effort will be performed by the jack-up GSP Jupiter.

Greek and European officials’ failure to reach an agreement regarding the control of the Greece-Athens link should elevate talks at a higher political level in order to prevent a power shortage on the Island in 2020. This comes after the alarming statement of Canete the Greece will not receive a further extension for the termination of operation of high polluting Diesel generators Greek and European officials. The European Commission ruled that the Eurasia Interconnector also remains in charge of the Crete-Athens links.

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Policy & Regulation

EU, UN seek compromise ahead of COP24 climate talks

Global greenhouse gas emissions are set to increase in 2018 and “aggressive action” is needed to peak emissions, mainly with the help of energy efficiency and renewables, the IEA warned at PreCOP24 talks in Poland. The three-day informal talks – kicked off on October 22 by EU Climate Action and Energy Commissioner Miguel Arias Cañete and Austrian Sustainability Minister Elisabeth Köstinger, whose country holds the rotating EU Presidency – aim to prepare for the UN Climate Summit (COP24) in Katowice, Poland, where countries will gather with the aim to agree on the rulebook for the United Nations 2105 Paris Climate Agreement. (New Europe)

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Oil & Gas

Competition Committee ruling on DEPA-Shell deal at end of month

Now a month into its full investigation of the DEPA gas utility’s local takeover agreement with Shell, the local Competition Committee appears most likely to require the entirety of a 45-day limit permitted for the procedure by law before delivering its decision towards the end of October, officials involved in the process have informed. DEPA has agreed to acquire Shell’s 49 percent share of the EPA Attiki gas supply and EDA Attiki gas distribution ventures covering the wider Athens area. DEPA already holds the majority 51 percent in these ventures. (energypress)

Long-term DEPA, Cheniere gas supply deal now likeliest choice

Ongoing discussions between the Greek gas utility DEPA and US energy exporter Cheniere are now focused on the establishment of a long-term LNG supply agreement. The possibility of any spot market order, on a trial basis, has faded, if not been ruled out. In recent times, DEPA has considered proceeding with a spot market order as an additional measure to cover peak energy demand either in the winter or summer. (energypress)

DEPA infrastructure split likeliest development at utility ahead of sale

A full or partial separation of gas utility DEPA’s infrastructure from the parent company appears to be the likeliest development in the corporation’s much-discussed split as part of its privatization plan. The corporation’s resulting corporate stature would remain unchanged if a full or partial split of its infrastructure division is pursued. This would not be so if the trade division were split as a new tax file number and new company would need to be established. (energypress)

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Power Markets

Investors, discontent with PPC sale incentives, may refrain

The bailout required lignite fired sale plan is at risk of not attracting investor interest due to lack of satisfactory incentives sought by buyers. Securing CAT remuneration for lignite units is considered to be a measure towards the right direction but deemed to be not sufficient. (energypress)

Greek power utility PPC to make savings after government scraps charge

Greek main power utility PPC is expected to make savings of at least €250m over the next two years as the Greek energy ministry has decided to scrap a surcharge aimed at funding renewable energy (ETMEAR). (Reuters)

Suppliers set to lose ground in tougher mid-voltage market

Independent energy suppliers are expected to lose ground in the mid-voltage market as they are under pressure to increase prices due to higher wholesale and NOME auction prices. NOME auction prices reached nearly €55/MWh during the latest auction. (energypress)

New Athens-Brussels standoff in Crete-Athens link talks

Greek and European officials’ failure to reach an agreement regarding the control of the Greece-Athens link should elevate talks at a higher political level in order to prevent a power shortage on the Island in 2020. This comes after the alarming statement of Canete the Greece will not receive a further extension for the termination of operation of high polluting Diesel generators Greek and European officials. The European Commission ruled that the Eurasia Interconnector also remains in charge of the Crete-Athens links. (energypress)Thumbnail _renewables

Renewables

Greece had SEE’s highest Q2 wholesale electricity prices

In the South-East European (SEE) region, wholesale baseload prices were the highest in Greece in Q2 2018, at EUR 56 per MWh, while the quarterly average price in Bulgaria had a discount of EUR 22 per MWh. Prices in Serbia and Croatia were by EUR 15 per MWh and EUR 13 per MWh, respectively, below the Greek contracts, the European Commission’s latest report on electricity markets shows. (Balkan Green Energy News)

Firm investment interest for Greek RES sector in September

Investors seeking electricity production licenses – via renewable energy and combined cooling, heat and power (CCHP) technologies – submitted applications representing a total of 1.1 GW in PV and wind energy installations to RAE, the Regulatory Authority for Energy, in September, with Greece’s northern Kozani and Evros regions receiving the strongest interest. Applications for solar energy production led the way while wind energy applications followed (energypress).

Greece to auction 423 MW in solar and wind capacities in December

Greece’s energy regulator, RAE, will hold three auctions on December 10 for a total of 423 MW of renewables capacities, including 194 MW of solar and 229 MW of wind capacity, according to an announcement on the regulator’s website (Balkan Green Energy News). But, Greece’s renewable energy targets for 2020 appear to be unattainable, with the exception of the solar energy sector that has been already reached, the latest official industry data showed. (energypress)Thumbnail Shipping Transportation

Shipping

Looser terms for oil tankers at ports would worsen fuel smuggling issue

A return to looser regulations for oil supply tankers anchored at Greek ports threatens to worsen the country’s fuel smuggling problem, depriving the Greek State of substantial tax revenues. A legislative revision currently being worked on by government officials would, if implemented, reintroduce lax terms not requiring tax-related inspections of tankers loaded with fuel and stationed at ports – without corresponding orders – as storage facilities. (energypress)

GasLog Partners LP Posts Record Revenues

GasLog Partners LP, an international owner and operator of liquefied natural gas (“LNG”) carriers, reports its financial results for the three-month period ended September 30, 2018. (Hellenic Shipping 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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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.


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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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