Petroleum production

During a forum in Alexandroupolis, US Assistant Secretary of State for Energy, Jeffrey Payatt, highlighted the significance of a gas pipeline project through Bulgaria as the next pivotal step for energy development in the region.

Türkiye imported a total of 50.48 billion cubic meters (bcm) of natural gas last year, down 7.64 percent from 2022, according to the data from the Energy Market Regulatory Authority (EPDK).

On February 18th the floating storage regasification unit in Alexandroupoli received its first test shipment of US liquefied natural gas. In other energy news, it looks like decision time has come for hydrocarbon surveys off Crete.

A photo taken by drone shows the transshipment procedures of the first cargo of liquefied natural gas (LNG) at the Floating Terminal in Alexandroupolis, northern Greece, 21 February 2024.

Decision time has come for the hydrocarbon survey program off Crete by the joint venture of ExxonMobil (70%) with Helleniq Energy (30%), which must decide whether it will conduct an exploration drilling.

Two months after it was moored in the Thracian Sea, the floating natural gas storage and regasification unit (FSRU), named Alexandroupolis, will on Friday receive its first liquefied natural gas (LNG) cargo.

Bulgargaz, the national gas company, projects a notable reduction in natural gas prices by nearly 6% for February. The company has submitted an application to the Bulgarian energy regulator outlining the expected change in pricing.

Five Greek and international environmental campaign agencies have launched legal action against a major natural gas project supported by the European Union as a regional alternative to Russian energy.

After undergoing a conversion into a floating storage regasification unit (FSRU), the GasLog tanker set sail on November 26 from Seatrium, Keppel's famous shipyard in Singapore and where most conversations from LNG tanker to FSRUs are carried out, and is expected to reach the port of Alexandroupoli on December 17.

The consortium licensed for Cyprus' "Aphrodite" gas field will update the development and production plan of the field by March 31, as announced by the minister of Energy, Commerce and Industry, George Papanastasiou. He pointed out that a floating production unit (FPU) above the gas field would be an essential plan of the new agreement.