09 January 2015

Recent developments in the Greek Gas and Power Markets

Speak by Mr. Giuseppe Tringali, General Manager Greece, KNUD E. HANSEN

Shipping energy approach has changed a lot in recent years due to competitive markets and challenging economical conjunctions.

However, one of the strongest external driving factor in the implementation of new regulatory frameworks linked to environmental issues.

Emission Controlled Areas are being introduced and soon the Mediterranean will be one of those. In this case Sox and Nox emission will have to be lowered to a point where LNG will become a viable option for propulsion due to its lower environmental impact. Greece is an ideal candidate to become an LNG hub also due to new geopolitical conditions in the area and the discoveries of Natural Gas in Cyprus and Israel.

Short sea shipping (both domestic and international) routes for Ro-Pax represent an ideal candidate for the use of Dual fuel technology. In short sea shipping, smaller amount of LNG fuel can be carried (reducing space and boil-off issues) as bunkering con be done more frequently.

The technology is there, it is safe and it is clean. In other regions this technology is already been used, and once the technology will become more widespread it will also become cheaper.

Major task for Greek and South Eastern European Governments could be to create a cluster and look at Scandinavian example where LNG technologies are promoted by using funds gathered by fining the users of “obsolete” and dirtier technologies.

In the case of the Greek domestic ferry market, which is subsidised by government on some routes, the advantages of a pro-active governmental role would be seen in relatively short terms.

Link to the conference