The Action is a continuation of the “COSTA II–East (Poseidon-Med)” - 2013-EU-21019-S and the “Archipelago-LNG” - 2013-EL- 92080-S Actions which together are part of the Global Project aiming to take all the necessary steps towards adoption of LNG as marine fuel in East Mediterranean Sea while making Greece an international marine bunkering and distribution hub for LNG in southeastern Europe.
The Action will build on the achievements of the above mentioned projects as well as on the results of “COSTA” - 2011-EU-21007-S which delivered the Master Plan for LNG as a marine fuel in the Mediterranean region.
The specific objectives of the Action are to:
- facilitate the adoption of the regulatory framework for the LNG bunkering;
- design the extension of Revithoussa LNG terminal;
- design and construct an LNG fuelled specific feeder vessel;
- implement technical designs and plan approvals for the retrofit/new building of LNG fuelled vessels and for additional ports' infrastructure for bunkering operations;
- examine potential synergies with other uses of LNG;
- develop a sustainable LNG trading and pricing pattern;
- develop financial instruments to support the port and vessel installations.