Argo FSRU
| Part of the Global Gas Infrastructure Tracker, a Global Energy Monitor project. |
Argo FSRU is a proposed LNG import terminal in Greece.
Location
Table 1: Location details
| Name | Location | Coordinates (WGS 84) |
|---|---|---|
| Argo FSRU | Port of Volos, Volos, Greece[1] | 39.3512644, 22.9324904 (approximate) |
The map below shows the approximate location of the terminal:
Project Details
Table 2: Infrastructure details
| Name | Facility type | Status | Capacity | Total terminal capacity | Offshore | Associated infrastructure |
|---|---|---|---|---|---|---|
| Argo FSRU | import[1] | proposed[1] | 3.38 mtpa[2] | 3.38 mtpa | True | – |
Table 3: Cost
| Name | Facility type | Cost | Total known terminal costs |
|---|---|---|---|
| Argo FSRU | import[1] | US$246,885,000 (226,500,000 EUR)[3] | US$246,885,000 |
Financing
No financing data available.
Table 4: Project timeline
| Name | Facility type | Status | Proposal year | FID year | Construction year | Operating year | Inactive year |
|---|---|---|---|---|---|---|---|
| Argo FSRU | import[1] | proposed[1] | 2022[1] | – | – | –[4][4] | – |
Ownership
Table 5: Ownership
| Name | Facility type | Status | Owners | Parent companies | Operator |
|---|---|---|---|---|---|
| Argo FSRU | import[1] | proposed[1] | Mediterranean Gas [100%][1][3] | Mediterranean Gas [100.0%] | Mediterranean Gas[1][3] |
Background
In March 2022, Greece's Mediterranean Gas (MedGas) received approval to develop the Argo FSRU Terminal, with potential import capacity of 4.6 bcm/y, in the port of Volos. MedGas will develop the project with ExxonMobil LNG after being awarded an independent natural gas system license from Greece's Regulatory Authority for Energy in February 2022. The MedGas company was established in September 2020 to develop the Argo FSRU project. Companies involved in the project include ExxonMobil LNG, Greece's Goldenport Shipping Management, and Klaipedos Nafta, the operator of the Klaipeda LNG Terminal in Lithuania. In October 2021, the two companies signed a memorandum of understanding to assess the supply capability of ExxonMobil LNG, a unit of US energy giant ExxonMobil, for delivering LNG into the proposed FSRU. ExxonMobil is expected to supply LNG to the facility from sources including the US and Qatar. MedGas said that as well as supplying Greece, the FSRU could also supply Bulgaria, Montenegro, Kosovo, Bosnia, North Macedonia, Albania, Serbia, and other countries. MedGas was aiming to have the terminal facility operating in the third quarter of 2023.[5]
In November 2022, MedGas announced that the FSRU's commissioning had been delayed until an anticipated start date in the first quarter of 2025. The FSRU terminal would have annual capacity of 5.2 bcm on average, with a maximum of 7.6 bcm/y. The company said that it had launched a market test for the project's capacity allocation on October 31, and that it had already commissioned the preparation of the studies for the finalization of the technical design, as well as the environmental impact study.[6] In December 2022, Mediterranean Gas completed the first phase of a market test to assess interest and capacity allocation in the terminal, finding that demand exceeded the total capacity of the project.[7]
In September 2023, it was reported that the project's sponsor was seeking permission from Greece's government to allow Romania's Transgaz to purchase a 15% stake in the project.[8]
In May 2025, Mediterranean Gas announced that its Argo FSRU project was officially scheduled to commence operations in July 2027. The facility is designed to deliver up to 5.2 bcm//year of gas annually to the Greek grid, with the potential to supply neighboring countries including North Macedonia, Bulgaria, Romania, Albania and Italy. The project has garnered significant interest from both domestic and international companies, with capacity commitments exceeding the terminal’s planned throughput.[9]
In June 2026, the GreekMinistry of Environment and Energy did not approve the Environmental Impact Study for the ARGO FSRU project, and Mediterranean Gas issued a statement saying it "respects the decision of the State".[10] Thus, the project is considered to be shelved.
Opposition
In June 2026, local environmental groups that have been campaigning since 2022 against the Argo FSRU welcomed an announcement from Greece’s Ministry of Environment and Energy that the project’s environmental impact assessment (EIA) had been rejected. Local community resistance to the project — on display most recently in actions around the Pagasitikos Gulf in mid-eastern Greece — is based on the high risks of air and marine pollution and degradation, and due to the project’s proximity to residential areas. While not an outright cancellation, nonetheless the EIA decision is a big setback for the LNG import project, with a vice-minister pointing to the concerns and resistance of the local population as a decisive factor in the ruling.[10][11]
Articles and Resources
Additional data
To access additional data, including an interactive map of LNG terminals, a downloadable dataset, and summary data, please visit the Global Gas Infrastructure Tracker on the Global Energy Monitor website.
References
- ↑ 1.00 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.10 https://lngprime.com/europe/another-greek-fsru-project-gets-approval/46464/.
{{cite web}}: Missing or empty|title=(help) - ↑ https://balkangreenenergynews.com/romanias-transgaz-to-take-over-stake-in-lng-terminal-project-in-greece/.
{{cite web}}: Missing or empty|title=(help) - ↑ 3.0 3.1 3.2 https://www.offshore-energy.biz/argo-fsru-project-greenlighted-by-greeces-regulatory-authority/.
{{cite web}}: Missing or empty|title=(help) - ↑ 4.0 4.1 https://lngprime.com/europe/greeces-mediterranean-gas-testing-market-interest-for-argo-fsru/65387/.
{{cite web}}: Missing or empty|title=(help) - ↑ Another Greek FSRU project gets approval, LNG Prime, Mar. 22, 2022
- ↑ Greece’s Mediterranean Gas testing market interest for Argo FSRU, LNG Prime, Nov. 2, 2022
- ↑ GIIGNL. The LNG Industry: GIIGNL Annual Report 2023. Accessed July 21, 2026.
- ↑ Igor Todorović (2023-09-20). "Romania's Transgaz to take over stake in LNG terminal project in Greece". Balkan Green Energy News. Retrieved 2023-10-05.
- ↑ "Argo FSRU in Volos set to begin operations by July 2027". www.portseurope.com. 2026-05-13. Retrieved 2026-07-23.
{{cite web}}: CS1 maint: url-status (link) - ↑ 10.0 10.1 "Mediterranean Gas: Σεβόμαστε την απόφαση της Πολιτείας – Παραμένουμε προσηλωμένοι στις αρχές της υπεύθυνης ανάπτυξης | Εφημερίδα ΤΑΧΥΔΡΟΜΟΣ Βόλου, Μαγνησίας, Θεσσαλίας". www-taxydromos-gr.translate.goog. 2026-06-30. Retrieved 2026-07-24.
{{cite web}}: CS1 maint: url-status (link) - ↑ "Εν πλω διαμαρτυρία ενάντια στη σχεδιαζόμενη μονάδα LNG στον Παγασητικό από φορείς - Greenpeace Ελλάδα". www.greenpeace.org. 2026-06-15. Retrieved 2026-07-24.
{{cite web}}: CS1 maint: url-status (link)
