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Greek Energy Forum Newsletter, 18th June 2018

In a key step towards completing the Southern Gas Corridor (SGC) that will reduce the EU’s reliance on Russian gas supplies, Turkey and Azerbaijan have officially opened the Trans Anatolian Pipeline or TANAP, which will bring Caspian gas to Europe.

Turkey’s President Recep Tayyip Erdogan and his Azerbaijani counterpart, Ilham Aliyev, inaugurated the project in Turkey’s Central Anatolian city of Eskişehir on June 12. Ukrainian President Petro Poroshenko and Serbian President Aleksandar Vucic were also in attendance.

TANAP, which will deliver 6 billion cubic meters of gas per year to Turkey and 10 billion cubic meters to Europe after it is connected to the Trans Adriatic Pipeline (TAP) at the Turkey-Greece border, is part of Turkey’s ambition to become a key energy hub.

European Commission Vice-President Maroš Šefčovič hailed the opening of TANAP, noting that the Trans-Anatolian Pipeline, together with the South Caucasus Pipeline and TAP, is an essential part of the Southern Gas Corridor. It is also the longest part of this infrastructure project. The European Commission said that the inauguration of TANAP on June 12 therefore marks a key milestone, as Caspian gas can now flow to Turkey on a commercial basis.

 

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Policy & Regulation

Cyprus preparing plan to cut GHG emissions, plastic waste

Cypriot Minister for Agriculture, Rural Development, and Environment, Mr. Costas Kadis announced that Cyprus will complete a new national plan for climate and energy aiming to address cutting GHG emissions and plastic waste. (balkangreenenergynews)

EU strikes deal on 32% renewable energy target and palm oil ban after all-night session

Early in the morning of 14 June, talks on renewable energy policy in Europe were finalized by reaching an agreement on the Renewable Energy Directive. Negotiators from the European Parliament and EU member states were able to reach a compromise on a 32% objective and a complete phase out of palm oil use in transport by 2030. (euractiv

EU Energy Ministers agree position to update ACER role

Meeting in Luxembourg on June 11, Europe’s energy ministers agreed on a text for a general approach on the proposal for a revision of the regulation of the European Parliament and of the Council on the establishment of an EU Agency for the Cooperation of Energy Regulators (ACER). (New Europe) 

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Oil & Gas

Country’s big energy players gearing up for DEPA sale

The past couple of days could be regarded as an unofficial launch of DEPA’s (public gas corporation) privatization, given the strong interest expressed by major players for the gas utility’s commercial division. Two of the country’s biggest energy market players, the Mytilineos corporate group and ELPE (Hellenic Petroleum), which holds a 35 percent stake of DEPA, made clear their interest in the gas utility’s commercial section yesterday, just hours after energy minister Giorgos Stathakis updated energypress on the DEPA privatization model to be adopted. (energypress)

RAE starts DESFA sale inspection process with auditor still at work

A dossier submitted by the winning bidding team of an international tender offering a 66 percent stake of DESFA, Greece’s natural gas grid operator, to the Court of Auditors may still be undergoing inspection but RAE, the Regulatory Authority for Energy, has already begun preliminary work concerning its own certification for the new owners. (energypress)

ELPE interest in gas market represents a ‘strategic choice’

ELPE (Hellenic Petroleum), holding a 35 percent stake in DEPA, the public gas corporation, remains interested in the soon-to-be privatized gas firm’s gas trading interests but not the distribution networks. (energypress)

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Power Markets

Greek energy exchange set to be established by 18 June

The Greek energy exchange company will most likely be founded on 18 June though there is a light chance of the procedure being completed by tomorrow. Procedures concerning the new company’s registration at the General Commercial Registry (GEMI), the single electronic commercial registry, are expected to be finalized tomorrow. (energypress)

Investor queries for PPC units sale indicate interest exists

A total of 26 questions forwarded by potential investors seeking clarification of terms in the main power utility PPC’s bailout-required sale of mines and power stations representing 40 percent of the utility’s overall lignite capacity indicates that considerable interest exists at this early stage of the sale. (energypress)

France’s Enedis wants role in derailed smart meters project

French electricity distribution network operator ENEDIS has expressed an interest to take part in an entrepreneurial team for the replacement of Greece’s conventional power meters with digital-technology systems. (energypress)Thumbnail _renewables

Renewables

EIB supports Greek electricity network modernisation

The European Investment Bank (EIB) said on June 12 that the bank will support a €170 million electricity network investment programme by the Hellenic Electricity Distribution Network Operator (HEDNO), a subsidiary of the largest power provider in Greece, PPC. The bank will finance 50% of the new scheme that will reinforce and modernise electricity distribution across the Greek mainland and islands and enable the national network to better supply renewable energy. (News Europe)

Foreign players new to Greek market apply for upcoming RES auction

A number of foreign players new to the Greek market have submitted applications for wind and solar energy capacities to be offered at a RES auction on July 2. Interested foreign players who met a June 5 deadline for applications include EDP Renovaveis, a subsidiary of Portugal’s EDP, among Europe’s major electricity operators. China Three Gorges (CTG) holds a 23 percent stake of EDP, the parent company of EDP Renovaveis, but its recent offer to takeover EDP in its entirety was rejected by the company board. (energypress)

Ellaktor, Terna left in PPC Renewables second round geothermal tender

Two investment schemes, Helector SA, a member of the Ellaktor group, as well as a team comprised of Terna Energy and sister company Terna Aioliki Xerovouniou SA, have submitted binding second-round bids to an international tender staged by PPC Renewables for a strategic partner in the installation of power stations to utilize four geothermal fields. PPC Renewables plans to establish a joint venture with its prospective strategic partner to develop geothermal power stations of at least 8 MW on Lesbos and 5 MW at each of the other locations. (energypress)Thumbnail Shipping Transportation

Shipping

Maran signs with Daewoo

Greek shipowner John Angelicoussis has used the right of exercising the option of ordering an additional LNG carrier at the South Korean shipyard DSME as well as a second floating storage and regasification unit (FSRU). Both of the new orders have a capacity of 173,400 CuM and will be delivered during Q2 2020. The latest LNG carrier on order will be the ninth under construction for Maran Gas from Daewoo and all of the vessels will fly the Greek flag according to Angelicoussis policy. (Hellenic Shipping News)

TOP Ships Inc. Announces Time Charter with Oil Major For 2 Suezmax Vessels

The international owner and operator of “Eco” tanker vessels TOP Ships Inc., announced that it has agreed to time charter two of its scrubber fitted Suezmax vessels that are still under construction at the S.Korean shipyard Hyundai Samho. Their employment will be initially for 36 months with an option of two additional 12 month periods and a start date upon the vessels’ deliveries during Q2 2019. The anticipated revenues for the company by this fixture, including the possible options, is estimated to be circa $96 Mln. (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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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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