Southern Corridor GRIP 2014–2023 |
47
0
100
60
Send out
non-FID
Storage
40
20
80
%
FID
Actual
Figure 4.4:
Relative capacity of existing, FID and non-FID LNG terminals in the Region
It has however to be noted that the estimation of the effective, and not only arithme-
tic, share of national production on the Region’s demand depends on the final des-
tination of the Cypriot gas.
In fact, this gas will need to be exported but it is not yet known to which destination.
Moreover, the quantities discovered so far do not seem sufficient to make feasible
any export scheme other than a pipeline to Turkey, a low probability option unless a
spectacular progress is made in the relations between the two countries. Therefore
Cyprus should team with other countries of the Eastern Mediterranean, like Israel
and possibly Lebanon, so that a critical mass is reached that will make a gas export
project economically sustainable. The SC Region countries are one among other
destinations. Many options are being discussed. The number of potential partners
and the tensions inherent to this Region make, at this stage, any prediction on the
successful option highly uncertain. In the present GRIP the non-FID project of a
pipeline linking the Eastern Mediterranean gas fields to Greece, proposed by 3
rd
parties (TRA-N-054 & 189), has been included.
4.2 Imports
The easternmost countries of the Region are greatly dependent on imports from
Russia, as shown by the modelling results (see paragraph 7.3.3). LNG is an impor-
tant source for Italy and Greece. Figure 4.4, showing the relative importance of the
infrastructure in place and the one planned, indicates that a further increase is pos-
sible (several LNG projects in Italy – all of them however non-FID – and the ongoing
project of the 2
nd
extension of the Revythoussa terminal in Greece together with the
construction of a 3
rd
storage tank). The rate of use of LNG will also depend on its
price evolution. High demand from the far-east and prospects for LNG exports by
the USA, are factors working in opposite directions (see also paragraph 4.3 below).
