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“The Employment of LNG in East Mediterranean”
Dr Panayotis Zacharioudakis, R&D Director OceanFinance
Efficient shipping operations – Transport and Traffic Management, safety and the Human element
VENICE, Motorways of the Sea Conference on Efficient Shipping Operations2
Presentation Outline
Introduction
Poseidon-Med Project @ a Glance
Facts and Figures
Consortium
Towards LNG Era
VENICE, Motorways of the Sea Conference on Efficient Shipping Operations3
Mainly Scope:
Create LNG Bunkering in East Med with
Piraeus as a Hub – (Hub & Spoke
Network)
But also:
Distribute LNG Cargoes to Satellite
Ports and LNG Import Terminals
Increase Security of Supply &
Diversification of Sources and Routes
Explore Synergies with TEN-T Urban &
Transport Network & Energy Production
Concept
VENICE, Motorways of the Sea Conference on Efficient Shipping Operations4
Sulphur Cap in ECAS, EU and Worldwide
LNG is The Most Efficient Alternative
For the Forthcoming
Emission Targets in SOx, NOx, Particles
& CO2 !!
Why LNG?
VENICE, Motorways of the Sea Conference on Efficient Shipping Operations5
New Supply Sources:
Qatar (QEnergy –
RasGas Agreement)
High Potential from
Gas Fields in Cyprus,
Israel, Libanon, Egupt
& Greece!!!!
Why LNG?
VENICE, Motorways of the Sea Conference on Efficient Shipping Operations6
POSEIDON-MED Study Phase (end 2013- end 2015) :
Studies for:
LNG Network. Supply and Demand
Legislations and Regulatory framework in Offshore and Onshore
installations
LNG Infrastructure & Installations
Risk Assessment
Sustainable Financing
The First Phase
VENICE, Motorways of the Sea Conference on Efficient Shipping Operations
Integrated Maritime Supply Chain for LNG in Italy
Local Assessments - Master Plans on LNG as Fuel for NAPA & other Italian
Ports
POSEIDON-MED In Italy
VENICE, Motorways of the Sea Conference on Efficient Shipping Operations8
Piraeus is the
Textbook case for
LNG Implementation
due to Coastal
Ferries !!!
Enormous Potential in the
Regional Port Systems of
NAPA, the West Coast of
Italy & the Black Sea
VENICE, Motorways of the Sea Conference on Efficient Shipping Operations11
Facts & Figures
Revithoussa Hub Tariff Policy (Assuming 20% Co-Funding)
Surcharge for Bunkering Logistics in Port of Piraeus: 1.0 $/MMBtu
Reference from North is : 2,5 - 4 $ /
MMBtu
Surcharge per MMBtu for Satellite Ports: 0,4
$/MMBtu
VENICE, Motorways of the Sea Conference on Efficient Shipping Operations12
Facts & Figures
RoPax (LNG vs Scrubber) in Piraeus - Crete Line
Scenario A: Full Scale Retrofit (4 Engines): 16 m€ (LNG) vs 6,5 m€
(Scr)
Scenario B: Partial Retrofit (2 Engines): 8,5 m€ (LNG) vs 3,5 m€ (Scr)
VENICE, Motorways of the Sea Conference on Efficient Shipping Operations14
Facts & Figures
CO2 45%
PM, NOX & SOX are Practically Eliminated
VENICE, Motorways of the Sea Conference on Efficient Shipping Operations15
Based on the Lessons Learned from the North:
Towards the LNG Era in Easter Med
Establish a Self-Sustained
System
Accomplish Synergies,
Efficiencies & Economies of
Scale
Brake the Chicken & Egg
Problem Only through Simultaneously Development of all the Critical Supply and
Demand Infrastructure in the Region
VENICE, Motorways of the Sea Conference on Efficient Shipping Operations16
Towards the LNG Era in Easter Med
Global Project Βudget (Greece) 0,5 b€ :
Port Related installations: 220 m€
Piraeus & Revithoussa Hub upgrade ≅20 m€
Patra, Heraklion Ports Infrastructure ≅100 m€
Bunkering Means (small LNG, Burges & LNG Trucks) ≅100 m€
Vessels Related Installations: 280 million€
Vessels Retrofits to LNG ≅8 x 15 (=120) m€
LNG fuelled New buildings ≅2 x 80 (=160) m€
The Project (Greek part) Has Been Listed as a Candidate Project in the Juncker
Plan / (EFSF).
VENICE, Motorways of the Sea Conference on Efficient Shipping Operations17
Project Leader :
Project Technical Manager:
Technical Services:
Classification Society
POSEIDON MED Consortium
VENICE, Motorways of the Sea Conference on Efficient Shipping Operations18
Ports:
Operators:
POSEIDON MED Consortium
VENICE, Motorways of the Sea Conference on Efficient Shipping Operations19
Supporters:
POSEIDON MED Consortium
VENICE, Motorways of the Sea Conference on Efficient Shipping Operations
Dr Panayotis Zacharioudakis
R&D DirectorE [email protected]
23 Psaron Street, 185 46 Piraeus, Greecewww.oceanfinance.gr
Thank you!!!