10 October 17

Poseidon Med II & CYnergy Conference Outcome: “Building synergies for the promotion of LNG in the East Mediterranean Region”

On Friday 29th September 2017, thirty-one experts discussed how two major co-financed projects –Poseidon Med II & CYnergy- could be the stepping stones for turning Cyprus into an energy hub and Eastern Mediterranean marine transportation with a sustainable, eco-friendly profile through the use of LNG. The Conference entitled “LNG: the meeting point for Marine, Transport & Energy sector in Cyprus”, attracted more than 180 delegates from marine & energy sectors, public bodies, port authorities and international organisations.

The Conference maritime section was inaugurated by the Cypriot Minister of Transport, Communications and Works Marios Dimitriades and European Commission DG Move representative Wojtek Sopinski, who endorsed the efforts of Poseidon Med II initiative, underlying LNG’s great potential for greener and sustainable future of shipping industry. The Poseidon Med II case was also featured at the morning keynote session, where project representatives -George Polychroniou, Executive Director Strategy, Development, Administration & IT at Public Gas Corporation (DEPA) & Dr Joseph Florentin, Corporate Development Department Manager at Hellenic Gas Transmission System Operator (DESFA) showcased project work and plans as well as the LNG choice, leading next generation of marine fueling.

Turning LNG from prospect into reality in shipping was the focus of the first session, where distinguished panelists highlighted global experience and strategies promoting LNG as marine fuel, plans for LNG bunkering in Cyprus as well as funding opportunities for investments, setting the scene for LNG uptake in the region. Innovative LNG fuelled vessels and storage technologies, quantity and quality verification processes, terminals’ experience and the shipyards approach towards the LNG as fuel era were presented at the second Conference session, underlying how pioneers accelerate technology uptake and create a fertile ground for the adoption of LNG in ships and ports.

Dr. Panayotis Zacharioudakis, Managing Director of OceanFinance & Project Manager of CYnergy, welcomed the audience to the final session on Energy and Transport inviting them to take the discussion regarding the Cypriot gas exploration and commercial exploitation one step further to the benefits for Cyprus by the everyday life use of NG. This first public presentation of the CYnergy Action, inaugurated by Antonis Ioannou, Acting Director of the Energy Service of the Ministry of Energy, Commerce, Industry and Tourism, was also saluted by W. Sopinski, who took the podium for the second time to deliver a short message on behalf of DG Energy, expressing full support to the project and congratulating CYnergy stakeholders for achieving significantly high co-funding rate in the context of the CEF Synergy Call.

Dr. Symeon Kassianides, President of CyGas (DEFA), presented a clear roadmap for the implementation of the Cyprus Republic’s plans regarding storage and distribution of NG in Cyprus, while representatives of the CYnergy Consortium discussed further the steps towards the transition of the internal market to the use of NG that will turn Cyprus into an energy hub of the South-East Med Sea. The session’s concluding panel discussion addressed the needs of the Cypriot industry conveying a strong message: In this new effort to bring NG to Cyprus, all related stakeholders are cooperating closely and by taking into consideration the Cypriot community’s needs coordinate their actions to establish a sustainable NG market.

The Conference was organised by Bunkernet, one of the main partners of Poseidon Med II & CYnergy project.

On the occasion of the Conference, Poseidon Med II & CYnergy project representatives, participated in “Agonas Eleftherias” sailing race on 1st October 2017, highlighting their devotion to low-emission marine transportation, setting sails to LNG era.

Videos of the conference are available here

Conference agenda & presentations of the conference are available here

About the Conference Organisers

Poseidon Med II project is a practical roadmap which aims to bring about the wide adoption of LNG as a safe, environmentally efficient and viable alternative fuel for shipping and help the East Mediterranean marine transportation propel towards a low-carbon future. The project, which is co-funded by the European Union, involves three countries Greece, Italy and Cyprus, six European ports (Piraeus, Patras, Limassol, Venice, Heraklion, Igoumenitsa) as well as the Revithoussa LNG terminal. The project brings together top experts from the marine, energy and financial sectors to design an integrated LNG value chain and establish a well-functioning and sustainable LNG market CYnergy project is a holistic approach towards the establishment of a Natural Gas (NG) system in Cyprus aiming to end the energy isolation of the island through establishing strategic synergies between the sectors of Energy and Transport. Embarking on turning Cyprus into an energy hub in the East Mediterranean, CYnergy targets the development of a sustainable and fully functional NG/LNG market for providing clean and affordable energy to the end user. The project, which is co-financed by the EU, is a collaboration of energy, transport and finance experts as well as public and governmental institutions of Cyprus and Greece.

 


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