The Regulatory Authority for Energy (RAE), following the prescribed procedures and in accordance to the Natural Gas Licensing Regulation (Government Gazette Β’3430/17.08.2018), granted to the company Mediterranean Gas the License of independent Natural Gas System (ASFA), which concerns the project “ARGO” FSRU Unit for the Import, Storage, Gasification of Liquefied Natural Gas, in the Port of Volos.
Mediterranean Gas proceeds to the implementation of the ARGO project with the development of a state-of-the-art LNG storage unit with a capacity of 170,000 cubic meters with a yield up to 4.6 billion cubic meter of natural gas per year. The Terminal consists of a floating storage and regasification unit (FSRU) for the supply of the National Natural Gas Transmission System. The commercial operation of the FSRU is estimated to begin in Q3 of 2023.
The geographical location of the project is in the center of mainland Greece and about 330km north of Athens having several strategic advantages, due to the neighboring industrial zones and the proximity to the National Natural Gas Transmission System.
The FSRU “ARGO” is coming, in the period of the European energy crisis that caused serious consequences for the economies and prosperity of the European member states as the stocks of NG have been diminished, to contribute by ensuring the energy adequacy of the country and Europe, through the coverage of the supply needs with additional quantities of NG necessary to deal with rising consumption at competitive prices.
Moreover, Volos is a strategic point for the development of the system of supplying Greece, Balkans, Europe and the wider area of Mediterranean region with liquefied natural gas.
Τhe project is expected to stimulate the economy of the local community, by creating multiple jobs, while in the framework of corporate social responsibility, there will be significant economic benefits for the region of Thessaly and Central Greece. The Municipality of Volos will benefit substantially since the Project will be a central point of international reference.
The Company’s Management has adopted strategies and policies for the exchange of information and e-learning material, as well as the formation of working groups with socialization activities, which will play an important role in achieving optimal security and the exchange of skills and talents between them. In addition, due to its state-of-the-art construction, the infrastructure will be accessible to the public, for educational visits, as a hub of academic and vocational training, always in cooperation with the University of Thessaly, one of the most active and advanced academic institutions in Greece.
The safety and protection of the environment, the continuous exchange of ideas with stakeholders, the continuous dialogue and the support of the local communities, together with the commitment for sustainable development, are the foundations of the social responsibility of the Volos Terminal “ARGO”.