argo fsru
Sustainability
Sustainability
The safety and protection of the environment, the continuous dialogue with social and other stakeholders, the support of local communities, along with the commitment to sustainable development, are the foundations of the social responsibility of ARGO FSRU, the Volos terminal. We work with key partners, communities and industry groups to maximize positive outcomes and continually deepen our understanding of sustainable development.
Corporate Governance
Mediterranean Gas S.A. operates in full respect of the legislative and regulatory framework with a view to the rapid development of the project. The Management remains committed to the implementation of the project and is consistently oriented towards the excellent cooperation with the competent bodies. Our executives are all with high know-how who perfectly plan all stages of the project ensuring its safety, as well as its uninterrupted efficiency at the beginning of its operation.
Mediterranean Gas S.A. has strict adherence to principles of ethics, security, safety, quality of life and respect for human values.
Strong governance is the foundation for delivering strong shareholder value. Our governance structures reflect our commitment to fostering long-term relationships, trust and goodwill with our shareholders, ensuring that our decisions and actions advance and respond to shareholders’ interests and supporting full transparency.
Society
Volos as well as the wider region of Magnesia becomes a protagonist and an energy hub with significant development potential and reciprocal benefits in this new economic environment. The station strengthens the economy of the local community by creating direct jobs, but also indirect ones through commercial synergies for the provision of services by similar companies. Other compensatory benefits are natural gas and electricity at low prices, as well as the cooperation with the chambers and the University of Thessaly as a training center in the new FSRU technology.
ARGO FSRU is developed in harmony and in cooperation with the local community. Care is taken not to affect existing infrastructure, networks, communications, transport, as well as cultural heritage. All steps of the project proceed to consultation with the pertinent National authorities.
The project supports the local economy by boosting employment by creating new jobs for the region’s workforce and science, boosting many sectors of activity and enhancing access to competitive energy. Also, Volos becomes a pole of attraction for the passage of cruise ships with LNG that will increase the tourist traffic. Positive effects are also expected on visitors and tourism as a consequence of increased professional activity, educational and scientific workshops and visitors related to the project.
Environment
Argo FSRU is an environmentally friendly and environmentally harmless project. There will be no environmental impact from the floating terminal for the settlements of the area, as its design will be the most modern that will limit any environmental footprint. The company has already commissioned the elaboration of the studies for the finalization of the technical design, as well as the Environmental Impact Study, the results of which will be announced upon its completion, but also the safety study, required in the context of the process of the permissions. The systematic monitoring and methodical control of the construction and operation of the projects, ensure that the ARGO FSRU will be a model installation for the global energy community.
LNG, advancing a lower carbon future
Liquefied natural gas (LNG) is the liquid form of natural gas used in many European households. it is a mixture of hydrocarbons of variable composition, with methane as the main component, and may contain small amounts of ethane, propane, butane and nitrogen. LNG is cooled and stored at -162 °C and at room temperature the vapors are lighter than air. LNG) is essentially used for transportation and storage purposes as it takes up about 600 less space. This decrease in its volume makes it possible to transport it over long distances. When it reaches the final destination it is regasified and transported through the local network for consumption. During liquefaction, existing CO2 and some other impurities have also been removed. Natural gas is chemically neutral and non-toxic. The composition of standard natural gas and liquefied natural gas (LNG) results in the purity of LNG and the higher methane content (95%) of non-liquefied natural gas (82%). natural gas contains a smaller percentage of other heavier hydrocarbons, as well as various components and non-organic compounds. The use of LNG also mitigates some adverse climate changes that are often attributed to the combustion of fossil fuels because it is clean, abundant, efficient, accurate and reliable. In many developed countries, LNG is considered the best and cleanest source for the energy transition. The project supports the local economy by boosting employment by creating new jobs for the region’s workforce and science, boosting many sectors of activity and enhancing access to competitive energy. Also, Volos becomes a pole of attraction for the passage of cruise ships with LNG that will increase the tourist traffic. Positive effects are also expected on visitors and tourism as a consequence of increased professional activity, educational and scientific workshops and visitors related to the project.