Modelled Direction
Yes
entry
Yes
exit
DESCRIPTION OF THE PROJECT
The project is aiming to the conversion of the South Kavala offshore natural gas reservoir to an Underground Gas Storage facility.
- The South Kavala field is an almost depleted reservoir, which is a turbistic sand package at a depth of 1,720 m, contained between a sequence of evaporites.
- The license for the development and operation of the UGS of South Kavala will be attributed through a tender procedure, expected to be launched by the Hellenic Republic Asset Development Fund (HRADF) to which the rights over the
field have been transferred by the State. The right to exploit the nearly depleted gas field of South Kavala is held, until 2014, by Energean Oil & Gas S.A.
EXPECTED BENEFITS
Security of Supply, Diversification of sources, N-1 National (GR), N-1 Regional (GR-BG-RO).
COMMENTS ABOUT THE PROJECT FINANCING
Public financing
Private financing
Multilateral financing
UGS - GR - DESFA/South Kavala
55.00
Hub Greece
Storage Greece
44.00
Storage Greece
Hub Greece
PROJECTED CAPACITY INCREASES
Interconnection
Capacity (GWh/d)
From Zone
To Zone
ENTSOG TYNDP 2013-2013 - Annex A
Southern Corridor GRIP 2014–2023 Annex B |
136
