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Energy companies Mercuria Energy and Motor Oil Hellas formalized a memorandum of understanding aimed at establishing a framework for long-term cooperation. This agreement focuses on the development and commercial operation of the Floating Storage and Regasification Unit project, known as FSRU Dioriga Gas. The infrastructure will be strategically located in the Saronic Gulf and will serve as one of the main entry points for liquefied natural gas imports into Greece.
The strategic alliance for LNG supply in the Saronic Gulf
The document commits both corporations to joint planning that covers the reservation of regasification capacity at the offshore terminal. Likewise, Mercuria will undertake the commitment to supply liquefied natural gas to Motor Oil Hellas through long-term supply contracts. In addition, the two entities will coordinate the final design of the commercial framework required to officially commence the regasification plant’s commercial operations.
The commissioning of the FSRU Dioriga Gas, managed through Motor Oil Hellas’ subsidiary of the same name, represents progress in the region’s plans to diversify energy sources. The project seeks to strengthen security of supply in Greek territory, the Balkans, and Southeast Europe. The operational flexibility of this system will help mitigate dependence on suppliers by integrating global LNG cargoes.
Mercuria operates as one of the world’s largest independent firms in the global energy sector, with a presence in more than 50 nations and a portfolio that includes oil, electricity, and metals. For its part, Motor Oil Hellas strengthens its position as an integrated energy group in Europe that manages highly complex refineries, marketing networks, and power generation assets. The companies aim to combine their logistics and commercial capabilities to accelerate the transition toward more stable supply infrastructure.
Source and photo: Mercuria Energy