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