Poseidon Med II · Poseidon Med II George Polychroniou Poseidon Med II - Project Manager Executive...
Transcript of Poseidon Med II · Poseidon Med II George Polychroniou Poseidon Med II - Project Manager Executive...
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Poseidon Med IIGeorge Polychroniou
Poseidon Med II - Project Manager
Executive Director
Strategy, Business Development, Administration & IT
DEPA – Public Gas Corporation S.A.
LNG: The meeting point for Marine Transport & Energy sectors in CyprusLimassol Cyprus
September 29, 2017
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I. LNG as Marine Fuel
II. Poseidon Med II project
III.LNG in Cyprus
Content
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I. LNG as Marine Fuel
II. Poseidon Med II project
III.LNG in Cyprus
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International regulation on the emission control
…in ECA have use fuel oil with a sulphurcontent of no more than 0.10% since
1 January 2015.
…outside (ECA), the current limit for sulphur content of fuel oil is 3.50%,
falling to 0.50% m/m on after 1 January 2020
Ships trading…
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Alternatives based on MARPOL Annex VI
MARPOL - Annex VI
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• Recent decision of IMO/MEPC will speed up developments
• LNG competition with Low Sulphur Bunker Fuels and EGCS (scrubbers) but:
Competition depends on oil price level and LNG decoupling
LNG can offer compliance with potential future environmental regulation
(NOx, PM, COx)
Conversion Investments payback often < 5 years
LNG could be the most beneficial option for:
− Smaller vessels
− New builds
− Vessels operating on fixed routes (e.g. Container vessels, Ferries,
Cruise ships)
• Other issues also matter (safety, reliability)
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LNG as marine fuel
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LNG fuelled Vessels
Excluding LNG carriers & inland waterway vessels
Source: DNV-GL, May 2017
There are currently 221 confirmed LNG ship fuel projects
1 1 3 3 3 4 8 9 15 21 25 35 4556
7597 106
34
73
98 108 110 113 113 115
10
50
100
150
200
250
Axi
s Ti
tle
Ships in operation Ships on order
106 LNG fuelled ships in operation worldwide today
115 confirmed LNG fuelled newbuilds in 2024
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LNG fuelled ships cover large area
The heat map is based on the LNG fuelled fleet’s AIS positions from 15.05.2017 – 25.05.2017
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LNG Demand for Bunkering
Different views often diverging.Drivers that could speed up the
demand:
New environmental regulations
Availability and cost of ownership for other bunker fuels
Optimization of the SSLNG supply chain
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2
3
LNG Consumption as a bunker fuel
Source: Forecasting the future of Marine fuel, BCG, 2015
263 252 210155 116
23143
191 237
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86
174
0
100
200
300
400
500
600
2014 2015 2020 2025 2030
Shipping Industry
Conventional HFO cleaned by scrubbers LNG
Tons (millions)
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I. LNG as Marine Fuel
II.Poseidon Med II project
III.LNG in Cyprus
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LNG at Ports
Piraeus
Patra
Heraklion
Igoumenitsa
Limassol
Venice
3 Countries
6 Ports
Greece
Italy
Cyprus
Duration: Jun.2015 – Dec.2020
Budget: ~€53M
Coordinator: DEPA
Technical Coordinator:
DESFA
Partenrs: 26
Co-financed: 50% by EU - CEFConnecting EuropeFacility
0
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Partners
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Activities
01Studies for Ports
02Designs of Vessels
03Regulation
04Financial
Synergies
Infrastructure at Revithoussa LNG terminal -
LNG infrastructure at 5 ports -
- Financial assessment
- Financial tools for investments Adaptation of regulatory framework -
Environmental impact assessment -
- LNG fuelled vessels (newbuilds & retrofit)
- LNG bunkering and feeder
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I. LNG as Marine Fuel
II. Poseidon Med II project
III.LNG in Cyprus
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Need for Synergies
LNG as marine fuel Road transport sector
Off grid areas individual/remote consumers,
potential distribution companies
Power Generation Plants Vasilikos power plant/ Greek Aegean islands
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LimassolVassilikos
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LNG in Cyprus
LNG to be transferred from FSRU in Vassilikos…
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