Greece aims to be marine LNG hub within years

Greece aspires to become a regional marine bunkering and distribution hub for liquefied natural gas (LNG) in the Eastern Mediterranean through the European Union co-funded "Poseidon Med II" project, according to local officials.

The 53.3-million-euro international project started in June 2015 and is scheduled to conclude in the end of 2020. It offers a roadmap for the extensive adoption of LNG as propulsion fuel for vessels in Greece, Italy and Cyprus with the participation of six ports: Venice in Italy, Piraeus, Patra, Iraklio and Igoumenitsa in Greece, and Limassol in Cyprus. It also involves the LNG terminal on Revythoussa island, off the Athens coast.

In late May, Greek Shipping Panayiotis Kouroumplis presented the draft presidential decree that sets out for the first time the framework for the expansion of LNG use in Greece.

"We are very satisfied with the...