Natural gas transmission system operator Transgaz has agreed to acquire a 15% stake in the Mediterranean Gas consortium, which is developing the Argo FSRU project at Greek port Volos.This move will further boost the LNG terminal’s development prospects as it promises the terminal a gas supply route to Balkan and central European markets.
Mediterranean Gas has filed an application to Greek authorities for an equity make-up revision facilitating Transgaz’ entry into the consortium. Mediterranean Gas is also holding discussions with other potential partners to further expand its shareholder base, while developments on the matter are expected soon.
A recent first-phase market test conducted by Greek natural gas transmission system operator DESFA to determine a capacity increase for the country’s gas network highlighted the Argo FSRU as one of the interconnection points of greatest interest for users.
The natural gas market in Romania is one of considerable size with a consumption of up to 13 billion cubic meters. Also, the country’s gas network offers interconnectivity with neighboring countries as well as with central European markets, and, as a result, offers the potential for transportation of significant gas quantities to the north.