Τετάρτη 27 Μαρτίου 2019
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Greek Energy Forum Newsletter, 28th January 2019

 

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Greek Energy Forum Newsletter, 28th January 2019

The state privatization fund TAIPED appears likely to reset the binding bids deadline of a sale offering a 50.1 percent stake in ELPE (Hellenic Petroleum) for a date within the first week of March, more than one month beyond the current January 31 date. The need for additional time is being attributed to the recent entry into the sale of two new candidates, American firm Carlyle and Algeria’s Sonatrach. They have established respective partnerships with the two existing candidates, Glencore and Vitol, and will need time to appraise ELPE before shaping bids with their partners. (energypress)

Greeks are becoming increasingly active in the sector of gas transportation as the top five LNG carrier owners already have a combined fleet estimated at c. $14 Bln, with another $6 Bln vessel value yet to be delivered. Maran Gas Maritime is at the forefront of LNG vessel owning companies having 27 existing vessels and 10 on order that worth almost $4 Bln. The rest of the top five companies include GasLog Ltd, GasLog Partners, TMS Cardiff Gas and Dynagas Holdings. According to Clarksons, almost 50% of large-sized LNG orders from South Korean yards in 2018 were placed from Greeks. (Seatrade-maritime)

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Policy & Regulation

EC refers Slovenia to court for failure to transpose EPBD, warns Bulgaria, Croatia, Greece on Energy Efficiency Directive

With regards to Slovenia’s failure to properly display energy performance certificates for buildings, the European Commission referred the country to the European Court of Justice. Among other European Countries, Bulgaria, Croatia and Greece has requested to correctly transpose the Energy Efficiency Directive (EED). (balkangreenenergynews)

National Energy and Climate Plan until 2030 set for Brussels delivery

reek energy ministry sources have informed that Greece’s National Energy and Climate Plan until 2030 has been finalized and will be submitted to the European Commission by the end of the month for approval. The plan represents the country’s international commitments on tackling climate change. It serves as road map for Greece’s green-energy future. (energypress)

Regulators reject key section of planned France-Spain gas pipeline

On grounds of lack of necessity and high cost, the energy regulators of Spain and France have rejected an investment request to build the central section of the planned Midi-Catalonia (MidCat) gas pipeline, the South Transit Eastern Pyrenees (STEP), linking the two countries. (euractiv)

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Oil & Gas

TAP completes successful €3.9 billion project financing

TAP has successfully completed financial close in December 2018, securing 3.9 billion euros, the largest project finance agreed for a European infrastructure project in 2018, the TAP consortium has announced in a statement. TAP will transport natural gas from the giant Shah Deniz II field in Azerbaijan to Europe. The 878 km long pipeline will connect with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy. (energypress)

Mytilineos orders American LNG

The country’s second ever American LNG shipment, a 170,000-cubic meter order placed by Mytilineos that represents the first to be made by a private-sector company, is scheduled to dock at the Revythoussa islet terminal just off Athens on 1 February. (energypress)

East Med countries agree to create regional gas market

Eastern Mediterranean countries have agreed to create a regional gas market in an effort to transform their part of the Mediterranean into a major energy hub. Egypt, Cyprus, Greece, Italy, Israel, Jordan, and the Palestinian Territories founded on January 14 a forum to ensure supply and demand, cut infrastructure costs and offer competitive prices. (New Europe)

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Power Markets

Electricity suppliers facing challenges despite good news

Rising System Marginal Prices, driven by increased fuel and emission costs, along with the diminishing role of NOME auctions make current market conditions challenging for independent electricity suppliers. (energypress)

PPC sale deadline extension ‘pointless without better terms’

Authorities have decided to extend the 23 January deadline for submission of binding bids to the 7 February. This was a last minute decision despite officials claiming that there would not be an extension. However investors have pointed out that unless there is an improvement in the sales terms the extension seems pointless. Interested parties are worried that the lack of possible revenue streams along with the risk posed by rising CO2 costs are not dealt with accordingly under the proposed sale plan. (energypress)

PPC secures EUR 255 million loan to upgrade electricity distribution network

PPC has secured a €255m loan from the European Investment Bank (EIB) to upgrade Greece’s distribution network operated by its subsidiary HEDNO (DEDDIE). The first part of the loan, totalling EUR 155 million, was signed at the PPC headquarters in Athens by Manolis Panagiotakis, Chairman and CEO of PPC, and Ioannis Kaltsas, responsible for public sector lending by the EIB in Greece and Cyprus, the EIB said in a press release. (Balkan Green Energy News)Thumbnail _renewables

Renewables

JinkoSolar supplies 5 MW for Mesokomo project in Greece’s north

World-renowned solar module manufacturer JinkoSolar has supplied 5 MW of PV solar modules to Juwi Hellas for use in the Mesokomo project in northern Greece, the company has announced in a statement. The project was successfully connected to the grid in December 2018 and is owned by Etva Vipe. (energypress)

Norton Rose Fulbright advises on local RES market’s largest refinancing

Global law firm Norton Rose Fulbright has advised Eurobank Ergasias and Alpha Bank on the €202 million non-recourse refinancing of a renewable energy projects portfolio operated by three subsidiaries of Total Eren, in Greece, it has announced in a statement. The portfolio consists of five wind parks and seven solar photovoltaic parks with a total installed capacity of 162.4 MW, the company statement noted. This is the largest refinancing in the Greek renewable energy market, it added. (energypress)

RES investment interest rising, foreign players emerging

RES capacity license applications reached a total of 2,940 MW in December, a record figure, RAE, the Regulatory Authority for Energy, has announced. Investor interest is high ahead of forthcoming RES auctions, including the first ever joint wind-and-solar energy auction planned for April. (energypress)Thumbnail Shipping Transportation

Shipping

Greek owners growing LNG shipping footprint

Greeks seem to become more active in the sector of gas transportation as the top five LNG carrier owners already have a combined fleet estimated at c. $14 Bln, with another $6 Bln vessel value yet to be delivered. Maran Gas Maritime is at the forefront of LNG vessel owning companies having 27 existing vessels and 10 on order that worth almost $4 Bln. The rest of the top five companies include GasLog Ltd, GasLog Partners, TMS Cardiff Gas and Dynagas Holdings. According to Clarksons, almost 50% of large-sized LNG orders from South Korean yards in 2018 were placed from Greeks. (Seatrade-maritime)

GasLog Announces Further Details On Long-Term Charters With Cheniere And Newbuilding Orders At Samsung Heavy Industries

New details have been announced regarding GasLog’s Ltd. new time charters with Cheniere’s subsidiary that will last for seven years each. The two LNG carriers ordered from Samsung Heavy Industries in South Korea have a capacity of 180,000 CuM, low pressure two stroke propulsion, GTT Mark III Flex Plus cargo containment systems and are expected to be delivered in mid-2021. The freight rate is in line with mid-cycle rates. (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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