Mediterranean Gas will export LNG to Romania and Central Europe but there is a need for upgrading the infrastructure to cover the increasing demand, according to Stefanos Economides, Business Development Mediterranean Gas SA, at the Central-European Natural Gas Congress, organized by Transgaz recently in Sibiu, Romania.
“We plan to export gas from Volos towards the north but we need some upgrades of the pipelines to cover the whole demand. The project is going to produce 5,2 billion cubic meters per year. The participation of Transgaz in our company is beneficial for both companies, and both countries, and for the region, because those volumes are going to Romania and maybe further to Central Europe”, Economides said.
Mediterranean Gas is an energy company aiming at the construction, development, operation, and management of LNG and natural gas systems. The company is the developer of Argo FSRU, an LNG storage and regasification terminal in Volos, to provide diversification of sources and energy security in Greece, the Balkans, and the wider region. The Argo FSRU is planned to start operating in early 2024.
In September this year, Romanian gas network operator Transgaz agreed to take a 15% stake in the Mediterranean Gas consortium, developing the Argo FSRU project at Volos on the continent’s east coast, a move that further boosts the terminal’s development prospects for LNG.