09 October 18

BlueHUBS in the Mediterranean to receive €19.789 million in EU CEF funding for TEN-T ports

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Piraeus, Greece (PortSEurope) October 3, 2018 – The European Commission has proposed to invest €695.1 million ($804.7 million) in 49 key projects to develop sustainable and innovative infrastructure in Europe across all transport modes, including €19.789 million ($22.91 million) to cover 30% of the total cost of €65.96 million ($76.36 million) in BlueHUBS –  liquified natural gas (LNG)and compressed natural gas (CNG) Supply Chains Upgrading Core in TEN-T Ports in the eastern Mediterranean.

BlueHUBS includes two LNG bunkering vessels, with a total capacity of approx. 3,000 m³ each based in the Core TEN-T ports of Piraeus and Lemesos; and compressed liquified natural gas (LCNG) stations and LNG tanker trucks with bunkering equipment in Core TEN-T ports of Heraklion and Lemesos.

The funding was applied for by Public Gas Corporation of Greece SA (DEPA), a group of companies with the presence in the energy sector, actively engaged in the wholesale market, trading, supply and distribution of gas to large and retail customers. State-owned Hellenic Republic Asset Development Fund (HRADF), responsible for privatising Greek state-owned assets, holds 65% of DEPA.

The finance comes from the EU Connecting Europe Facility (CEF).

Source: PortsEurope