On December 19, 2022, the first phase of the Market Test of Mediterranean Gas for the expression of interest and capacity allocation for the ARGO FSRU terminal in Volos was successfully completed.

An expression of interest was submitted by Greek & international companies, which exceeded the total capacity of the terminal, while the quantities declared are for a period of up to 25 years. The demand for additional storage space in the terminal was also particularly high.

This is a strategic and emblematic project that is being developed to contribute to the country’s energy needs, but also to increase its import and storage capacity in all Balkan countries and the Southeastern Europe. The new terminal, located in the heart of the Mediterranean and in the center of the National Natural Gas Transmission System, will support the country’s energy security and diversification.

ARGO’s regasification capacity will be 5.2 bcm of natural gas per year. It is located in the heart of Greece, in the middle of the NNGS, offering high pressure for the proper operation and sustainability of the National System and flexibility to terminal users, as well as a wide range of services. ARGO FSRU will be the new energy gate for Greece and Europe, classifying Volos and Central Greece on the energy map of the country, but also of Europe.

The process of the first phase of the Market Test was completed under the supervision of the Regulatory Authority for Energy (RAE). The project will soon proceed with the next binding phase.