MOTOR OIL' €339.6M investment in Agios Theodoros wins approval
MOTOR OIL' €339.6M investment in Agios Theodoros wins approval

MOTOR OIL' €339.6M investment in Agios Theodoros wins approval

The construction and operation of a Natural Gas Terminal is being fast track processed.
RE+D magazine

A new strategic investment with a total budget of €339.6 million was approved by the Interministerial Strategic Investment Committee.

This is the investment project "Liquefied Natural Gas Storage and Regasification Unit (FSRU)" of the investment organization "DIORYGA GAS" member of the MOTOR OIL Hellas S.A. Group. (M.O.E.) in the Municipal Unit of Agioi Theodoros of the Prefecture of Corinthia, which will receive the incentive of Rapid Licensing.

The investment concerns the construction and operation of a Natural Gas Terminal which will be interconnected, through an onshore pipeline, with the National Natural Gas Transmission System. 4 distinct sections will be built, of which two are characterized as Hydrogen-Ready, as with minimal modifications they can also be used to transport hydrogen.

Specifically, the construction of a floating storage and regasification unit (FSRU), the construction of a jetty (Hydrogen Ready), its equipment and dry facilities (Hydrogen Ready) as well as a measuring station and its connection to the transmission system are foreseen.

It is noted that the Committee met under the chairmanship of the Minister of Development and Investments, Mr. Adonis Georgiadis, with the participation of the Deputy Minister of Development and Investments and Responsible for Strategic Investments, Mr. Nikos Papathanasis, the Ministers of Finance, Mr. Christos Staikouras, Environment and Energy, etc. Kostas Skrekas, Culture and Sports Mr. Linas Mendonis, Government Mr. Giorgos Gerapetritis, Infrastructure and Transport Mr. Kostas Karamanlis, Shipping and Islands Policy Mr. Yiannis Plakiotakis, the Deputy Minister of Finance Mr. Thodoros Skylakakis, as well as the Deputy Minister Responsible for Economic Diplomacy and Extraversion Mr. Costas Fragogiannis.

The meeting was also attended by the General Secretary of Private Investments and PPPs Mr. Orestis Kavalakis, the General Secretary of International Economic Relations and Outreach and President of Enterprise Greece Mr. Vicky Loizou, the CEO of Enterprise Greece Mr. Marinos Giannopoulos and the General Director of Strategic Investments of Enterprise Greece Mr. Akis Sklavos.