Po­sei­don Med II fo­cuses on LNG fu­elling the fu­ture of the eastern Mediter­ranean

Financial Mirror (Cyprus) - - FRONT PAGE -

The prospects of LNG as ma­rine fuel and the en­ergy pro­file of Cyprus were the main ar­eas of dis­cus­sion among the key stake­hold­ers, dur­ing an event or­gan­ised by the EU-funded Po­sei­don Med II project at the Amathus Beach Ho­tel in Li­mas­sol.

The event brought to­gether high-level gov­ern­ment rep­re­sen­ta­tives, lo­cal stake­hold­ers, del­e­gates from the ma­rine and en­ergy in­dus­try as well as Po­sei­don Med II project part­ners.

The scope of the event was to pro­vide an up­date of Po­sei­don Med II project as well as to keep the public abreast on the de­vel­op­ments re­gard­ing the en­ergy sup­plies of Cyprus, up­com­ing reg­u­la­tions and the hy­dro­car­bons ex­plo­ration ac­tiv­i­ties in the area. Po­sei­don Med II project part­ners pre­sented the cur­rent sta­tus and progress re­gard­ing the tech­ni­cal stud­ies for the in­stal­la­tions at Li­mas­sol port and the ves­sels in­volved. The global ex­pe­ri­ence and com­mer­cial as­pects of bunker­ing op­er­a­tions as well as the fi­nan­cial in­stru­ments to at­tract in­vest­ments were also dis­cussed.

In his wel­come speech, the Trans­port Min­is­ter Mar­ios Deme­tri­ades praised the in­volve­ment of the Cyprus Ports Author­ity and Cypriot com­pa­nies in the project and un­der­lined the great po­ten­tial of LNG as ship fuel, not­ing that this could pro­vide a so­lu­tion for meet­ing cleaner emis­sion stan­dards. He also re­ferred to the reg­u­la­tory driv­ers and ex­per­tise gained from cur­rent projects across Europe.

The three Cypriot part­ners are the Cyprus Ports Author­ity, Lavar Ship­ping - the flag­ship com­pany of the RPT Group - and Bunker­net.

The stake­hold­ers’ dis­cus­sion fol­lowed a tech­ni­cal work­shop on LNG bunker­ing at the port of Li­mas­sol aim­ing to as­sess the prospects and con­sider safety mat­ters re­lated to LNG bunker­ing op­er­a­tions in this port. Work­shop par­tic­i­pants, un­der the fa­cil­i­ta­tion of Thanos Ko­liop­u­los, Global Spe­cial Projects Man­ager of Lloyd’s Regis­ter, con­trib­uted to open group dis­cus­sions on op­er­abil­ity is­sues sur­round­ing LNG bunker­ing, tech­nol­ogy, safety pro­vi­sions and reg­u­la­tions. A fore­cast­ing model for LNG ca­pac­ity trade used a spe­cific cal­cu­la­tion tool in or­der to es­ti­mate the LNG fuel re­quire­ments based on the ship types and as­so­ci­ated trade routes at Li­mas­sol Port.

Next on the Po­sei­don Med II events calendar is the Haz­ard Iden­ti­fi­ca­tion tech­ni­cal work­shop, be­ing held this week in Pi­raeus Port.

Po­sei­don Med II is a prac­ti­cal roadmap which aims to bring about the wide adop­tion of LNG as a safe, en­vi­ron­men­tally ef­fi­cient and vi­able al­ter­na­tive fuel for ship­ping and help the East Mediter­ranean ma­rine trans­porta­tion pro­pel to­wards a low-car­bon fu­ture. The project, which is co-funded by the Euro­pean Union, in­volves three coun­tries - Greece, Italy and Cyprus, six Euro­pean ports (Pi­raeus, Pa­tras, Li­mas­sol, Venice, Her­ak­lion, Igoumenitsa), as well as the Re­vit­houssa LNG ter­mi­nal. The project brings to­gether ex­perts from the ma­rine, en­ergy and fi­nan­cial sec­tors to de­sign an in­te­grated LNG value chain and es­tab­lish a well-func­tion­ing and sus­tain­able LNG mar­ket.

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