#Greece #Athens #Mercuria Energy #Motor Oil Hellas #LNG Supply

Mercuria and Motor Oil Hellas Establish LNG Supply Cooperation

In a significant move towards enhancing energy security in Southeast Europe, Mercuria Energy and Motor Oil Hellas have signed a Memorandum of Understanding (MOU) aimed at fostering long-term cooperation in the liquefied natural gas (LNG) sector. This partnership focuses on the Dioriga Gas Floating Storage and Regasification Unit (FSRU), a pivotal project located in Greece's Saronic Gulf which is rapidly becoming one of the most advanced LNG import terminals in the region.

The Dioriga Gas FSRU, developed by Motor Oil's subsidiary, is strategically positioned to serve as a key gateway for LNG imports into Greece and neighboring areas. The project stands to significantly diversify gas supply sources, mitigate supply risks, and fortify Greece's role within the broader European energy landscape.

Under the MOU, both companies are set to collaborate on a variety of fronts that include the reservation of regasification capacity at the terminal and the long-term supply of LNG from Mercuria to Motor Oil Hellas. A critical aspect of this partnership is the joint effort to navigate the steps necessary to bring the FSRU project into commercial operation.

This initiative not only underlines the commitment of both parties to bolster energy security across Europe but also represents a significant investment in the critical infrastructure required to support a reliable and diversified gas supply. As Europe looks to reduce its reliance on single-source gas suppliers, projects like the Dioriga Gas FSRU become increasingly important.

About Mercuria Energy
Founded in Geneva, Mercuria is a globally recognized independent energy and commodities company with operations spanning over 50 countries. The company manages a diverse energy portfolio including crude oil, refined products, natural gas, electricity, and renewable energy solutions. Furthermore, Mercuria is known for its strong commitment to risk management, compliance, and operational excellence, alongside a focus on fostering the energy transition through investment in renewable and transitional energy solutions.

About Motor Oil Hellas
Motor Oil Hellas has established itself as a leading integrated energy group in Southeastern Europe. With its headquarters in Greece, the company manages extensive operations across refining, fuels marketing, natural gas, electricity, and renewable energy. Operating one of Europe’s most advanced refineries, Motor Oil exports to more than 70 countries, playing a crucial role in strengthening energy security in the region. The company is actively involved in low-carbon energy initiatives including renewable energy projects, and circular economy solutions, and is exploring emerging hydrogen value chains.

As both Mercuria Energy and Motor Oil Hellas work together toward advancing this important LIQUID natural gas import capacity in Greece, it becomes clear that collaborative efforts in the energy sector are essential for meeting the evolving demands of energy policy and supply security in Europe.