A partnership between Motor Oil and global commodities trading group Mercuria Energy is expected to accelerate progress toward the final investment decision (FID) for the planned Dioryga Gas floating LNG terminal in Greece.
The companies have signed a Memorandum of Understanding (MoU) outlining long-term cooperation for the development and future commercial operation of the floating storage and regasification unit (FSRU), which will be located in the Saronic Gulf near Athens. The agreement sets the foundation for key commercial components needed to advance the project, including LNG supply arrangements, regasification capacity bookings, and the broader operational framework.
Industry observers view Mercuria’s involvement as a significant step forward, as it strengthens the project’s commercial structure and improves its chances of securing the long-term market commitments required before reaching FID. The Dioryga Gas terminal is considered one of Greece’s most important upcoming LNG infrastructure projects, alongside the Alexandroupoli FSRU, and is expected to play a strategic role in enhancing both national and regional gas supply security.
For Motor Oil, the partnership brings in a major international trading player with extensive experience in LNG markets and global energy commodities. This cooperation is also expected to improve financing conditions by increasing the project’s long-term utilization outlook and reducing commercial risk for potential investors.
The planned terminal will be connected to Greece’s national gas transmission network, supplying key demand centers while supporting the company’s broader strategy of expanding its footprint in LNG infrastructure, power generation, and integrated energy operations.
The project is advancing in a period when Europe is actively seeking to diversify gas supply routes, while Southeast Europe is increasingly emerging as a key entry point for LNG flows into the wider regional energy system.
