Argo FSRU Terminal

This article is part of the Global Fossil Infrastructure Tracker, a project of Global Energy Monitor.

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Argo FSRU Terminal is a proposed floating storage regasification unit (FSRU) terminal for LNG import in Greece.

Location

The terminal is proposed to be located in the Port of Volos, Greece.

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Project details

• Operator: Mediterranean Gas
• Owner: Mediterranean Gas
• Parent company:
• Location: Port of Volos, in the city of Volos, Greece
• Coordinates: 39.3512644,22.9324904 (approximate)
• Capacity: 4.6 bcm/y
• Status: Proposed
• Type: Import
• Start year: 2023
• Cost: €226.5 million (US$248.5 million)
• Financing:
• Associated infrastructure:

Note: mtpa = million tonnes per year; bcfd = billion cubic feet per day; bcm/y = billion cubic meters per year

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 aims to have the terminal facility operating in the third quarter of 2023.