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Tue, Oct

Motor Oil Advances 2 Energy Deals with AKTOR, GEK TERNA

Motor Oil Advances 2 Energy Deals with AKTOR, GEK TERNA

Hellenic Shipping News

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Μotor Oil is advancing two major energy transactions that are expected to strengthen its position across Greece’s electricity and natural gas markets and accelerate consolidation in the sector.

The first involves AKTOR, which is set to acquire a 50% stake in Dioriga Gas, the Motor Oil subsidiary developing a floating storage and regasification unit (FSRU) off the Agioi Theodoroi site in the Corinth Gulf. The deal has entered the stage of finalizing its main terms, with definitive agreements expected to be signed in September.

The FSRU is designed to add LNG storage and regasification capacity to Greece and provide another entry point for natural gas into the national system. With planned storage capacity of up to 210,000 cubic meters, the project is also intended to support gas flows toward southeast and eastern Europe through the billed Vertical Energy Corridor.

For AKTOR, the investment is part of a strategy to establish a larger role in regional energy security and infrastructure. The group has already secured LNG commercial agreements involving 1.5 billion cubic meters,

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