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Mercuria, an independent energy and commodity trader, has joined forces with Motor Oil Hellas (MOH) to ensure liquefied natural gas (LNG) supply through a floating storage and regasification unit (FSRU) in Greece’s Saronic Gulf.
Mercuria and Motor Oil have signed a memorandum of understanding (MOU) to establish a framework for long-term cooperation in connection with the FSRU Dioriga Gas project in the Saronic Gulf.
This unit, being developed by MOH through its subsidiary Dioriga Gas, is said to be the most advanced and mature FSRU project in Greece, representing the optimal solution for LNG imports into the country and the wider Southeast European region.
Under the MOU, the duo set its cap on step-by-step cooperation regarding regasification capacity reservation at the terminal, the long-term supply of LNG by Mercuria to MOH for delivery through the FSRU Dioriga Gas, and the joint development of the framework required to bring the project to commercial operation.
The cooperation is seen as a shared commitment to support energy security in Europe and invest in the infrastructure that underpins a reliable and diversified gas supply. The partners look forward to working together to advance the region’s LNG import capacity.
Mercuria emphasized: “T he project will play a pivotal role in diversifying gas supply sources, enhancing regional energy security, and strengthening Greece’s position as a key LNG gateway for Europe .”
The MOU with Motor Oil comes weeks after Mercuria secured deals related to an LNG export project in Louisiana, which is being developed by Kimmeridge’s Caturus.