POSEIDON MED II

PROJECT

Data

Project title: Poseidon Med II

Programme: Connecting Europe Facility (CEF)

Contract Number: (Action Number: 2014-EU-TM-0673-S)

Project budget: 53.279.405,00 €

Duration: 1/6/2015– 31/12/2021

Project Coordinator: DEPA COMMERCIAL (DEPA) S.A.

PPA contact: Mr. Dimitris Spyrou (This email address is being protected from spambots. You need JavaScript enabled to view it.)

PPA budget: 915.000,00 Euros (50% financed by the CEF)

FUNDING

PROJECT SUMMARY

This project is a continuation and a unification of the “COSTA II–East (Poseidon-Med)” and the “Archipelago-LNG” projects and it is a part of the Global Project aiming to take all the necessary steps towards adoption of LNG -as marine fuel- in Eastern Mediterranean Sea while making Greece an international marine bunkering and distribution hub for LNG in South Eastern Europe. What is certain through the lessons learned from Poseidon – Med I is the need for a holistic approach as no Port can develop a self-sufficient and sustainable LNG bunkering station nor any Ship-owner alone can efficiently shift to LNG if not followed by a critical mass of neighboring Ports as supply points and Ship-operators as consumers. This holistic approach has been the key idea behind the simultaneously preparation of detailed studies and assessments in both the supply and demand pillars of the LNG as fuel

Objectives

Poseidon Med II aims to contribute to reducing negative impacts of heavy fuel oil powering and to facilitate the implementation of the requirements of a number of EU Directives regarding alternative fuels for a sustainable future in the shipping industry.

The specific objectives of the project are to:

1. facilitate the adoption of the regulatory framework for the LNG bunkering

2. design the extension of Revithoussa LNG terminal

3. design and construct an LNG fuelled specific feeder vessel

4. implement technical designs and plan approvals for the retrofit/new building of LNG fuelled vessels and for additional ports' infrastructure for bunkering operations

5. examine potential synergies with other uses of LNG

6. develop a sustainable LNG trading and pricing pattern

7. develop financial instruments to support the port and vessel installations

8. develop synergies with other sectors (mainly Energy) that will create economies of scale in the use of LNG.

Activities

Poseidon MED II wider benefits

Poseidon Med II has a wide range of benefits for the environment and the economy. The key point is eco-sustainability, which comes hand-in-hand with compliance with a number of EU and Worldwide Directives concerning the maritime sector. Moreover, the promotion of NG and LNG as fuel will grant fuel-security to member states, as well as fuelling the economy.

Some of these benefits are:

Reduction of negative environmental impact of heavy fuel oil powering and implementation of the requirements of Annex VI of the IMO MARPOL Convention and of Directive 2012/33/EU, which foresees that as of 2020, ship operators that trade in European territorial seas and exclusive economic zones will be required to burn fuel with less than 0.5% of sulphur content.

Contribution towards the implementation of Directive 2014/94/EU on the deployment of alternative fuels infrastructure and the Clean Power for Transport Package, as it will develop studies necessary to ensure that an appropriate number of refuelling points for LNG are put in place at maritime ports to enable LNG inland waterway vessels and seagoing ships to circulate throughout the TEN-T Core Network by 31 December 2025.

Promotion of the diversification of sources and routes of NG and to ensure the EU Member States Security of Supply. This will be achieved with the implementation of Small scale LNG infrastructure like Small scale LNG terminals and LNG feeders which will make the distribution of LNG cargoes to Greek Core ports and ports of the Greek Archipelago, and also to Cypriot, Italian, Slovenian, Croatian, and Black Sea ports easier.

Facilitation of new uses of LNG like Power Generation on islands, and supply of NG to remote from the grid areas, which will create synergies that will enhance the economies of scale and support the competitiveness and sustainability of the small scale LNG supply chain.

PROJECT PARTNERS

1. DEPA Commercial S.A, ( lead Partner)

2. Hellenic Gas Transmission System Operator S.A.

3. Hellenic Lloyd's S.A.

4. OceanFinance Ltd.

5. Environmental Protection Engineering S.A.

6. NAP Engineering P.C.

7. Rogan Associates S.A.

8. Piraeus Port Authority S.A.

9. Heraklion Port Authority S.A.

10. Patras Port Authority S.A.

11. Igoumenitsa Port Authority S.A.