Poseidon Med II

Dissemination Event Limassol, Cyprus

16.09.2016

George Alexandris Corporate Development Activities

Associate

Poseidon Med II – LNG Bunkering

Poseidon Med II project is a practical roadmap which aims to bring about the wide adoption of LNG as a safe, environmentally efficient and viable alternative fuel for shipping and help the East Mediterranean marine transportation propel towards a low-carbon future. The project, which is co-funded by the European Union, involves three countries Greece, Italy and Cyprus, six European ports (Piraeus, Patras, Limassol, Venice, Heraklion, Igoumenitsa) as well as the Revithoussa LNG terminal.

The project brings together top experts from the marine, energy and financial sectors to design an integrated LNG value chain and establish a well-functioning and sustainable LNG market. With Poseidon Med II the East Mediterranean sets sail into the LNG era turning Greece into an LNG Bunkering hub in SE Europe.

Region of Action

3 Countries

• Greece • Cyprus • Italy

• Piraeus • Patrai • Heraklion • Igoumenitsa • Limassol • Venice

6 Ports

Partners

Energy

DEPA (GR)

(Project Manager &

Coordinator)

DESFA (GR)

(Technical

Coordinator)

Piraeus (GR)

Heraklion (GR)

Patras (GR)

Igoumenitsa (GR)

Limassol (CY)

Venice (IT)

Minoan Lines (GR)

Blue Star (GR)

Attica Ferries (GR)

ANEK (GR)

Neptune (GR)

Hellenic Seaways (GR)

Arista (GR)

Lavar (CY)

HSSA-EENMA (GR)

SEEN (GR)

Hellenic Lloyd's (GR)

OceanFinance (GR)

CERTH-EKETA (GR)

EPE (GR)

NAP (GR)

Rogan (GR)

R.R. Panfido (IT)

Bunkernet (CY)

Ports Shipping Technical &

Financial

LNG Supply Chain

Mid scale storage

End user (NG)

Small scale

shipping

Evapo-ration

Truck transport

Ship bunkering

Small scale

storage

End user (NG)

Evapo-ration

Hub Pipeline End user

(NG)

Gas explo-ration

Liqui-faction

Large scale

shipping

Evaporation

Source: Wartsila

Activities

Regulatory framework

Financial aspects

Pilot case (Venice)

Sustainability-Synergies

Executive Design and Construction of an Innovative LNG Vessel

Installations Financial Assessment - Financial Instruments for the Global Projects Investments

Adaptation of the Regulatory Framework

Assessment of Efficient Supply Chain/Synergies – Sustainable LNG Pricing Patterns

Project Organization

Ports & LNG Terminal Infrastructure

Vessels Infrastructure

Coordination – Management – Dissemination – Social/Public Consultation – Awareness

Environmental/Safety/Site Studies – Ports Master Plans updating – Supporting/Preliminary/Detailed Design Studies – Tender documents

Technical studies for selected vessels

Act. 1-3

Act. 6-12

Act. 14

Act. 15

Act. 4-5

Act. 13

Act. 16-17

LNG Terminals in Europe

Most of the European LNG

import terminals already offer truck

loading and the availability of

loading bunkering ships is increasing

as well

Source: : GIE

Development of LNG fueled fleet

*Source: DNV -GL

International regulation on the emission control

ECAs 0.1% S from 1 January 2015

Outside ECAs 0.5% S from 1 January 2020 or 2025

New SOx ECAs are expected

(Emission Control Areas) ECA

Incremental global LNG Supply relative to 2010

The global LNG market was dominated by the acceleration of the market loosening in Asia in 2015, leaving more volumes to find markets in Northwest Europe, but also in North America and the Middle East.

Europe remains heavily dependent on Russian gas, but LNG imports into Europe will start to pick up substantially from 2016 and Russia will struggle to maintain market share

Lower LNG prices unlock demand based on different demand drivers, such as coal displacement in power, indigenous supply, diversification from pipeline imports

LNG Volumes unloaded at Revithoussa Terminal

-

500

1,000

1,500

2,000

2,500

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

{ ,000 m3 LNG}

LNG available in Greece round the clock since 2000

Indicative passenger ship

annual consumption

15.000 – 30.000m3 LNG

DEPA: Leading and reliable LNG supplier in Greece

1 Long Term Contract 15 MSPA (Master Sales Purchase Agreements)

DEPA ensures secure supply of LNG in the Greek market at competitive prices since 2000 through:

2000-2015

~87%

2010-2015

~70%

with Algerian Sonatrach Annual contracted quantity: (756,000-1.199,000 m3 LNG)

with international LNG Suppliers/Traders to purchase LNG cargoes on spot basis

DEPA's market share on unloaded LNG Volumes

With Poseidon Med II the East Mediterranean sets sail into the LNG era turning Greece into an LNG Bunkering hub in SE Europe.

THANK YOU FOR YOUR ATTENTION!

George Alexandris Corporate Development Activities,

Associate

Public Gas Corporation of Greece (DEPA) S.A. Tel. +30 210 2701221

E-mail. g.alexandris@depa.gr