European port officials have met this week to review the performance of the Poseidon Med LNG bunkering project. The next phase of the €53.3 million European Union (EU)-funded liquefied natural gas (LNG) bunkering infrastructure development project, Poseidon Med II, was launched thereafter.
The Poseidon projects are part of the Motorways of the Sea initiative, a European Commission led concept that aims at introducing new intermodal maritime-based logistics chains in Europe. The original project, Poseidon Med saw the development of a strategy for introducing and promoting LNG as marine fuel to curb emissions in the eastern Mediterranean, drawing up proposed distribution infrastructure across the region.
The gathering, which included representatives from the ports of Piraeus, Trieste, La Spezia, Venice, Genoa, Koper, Rijeka and Limassol, reviewed the findings and achievements of this original project and the also the progression of initial discussions on ways to adopt LNG as marine fuel in the eastern Mediterranean, using Greece as a regional marine bunkering and distribution hub.
This second project, Poseidon Med II will now seek continue the region’s work toward reducing marine transport sulphur emissions to 0.5 percent, in line with EU and international standards.
Under the Poseidon Med II project, member ports aim to:
– facilitate adoption of a regulatory framework for LNG bunkering.
– design an extension to Greece’s Revithoussa LNG-import terminal near Athens;
– design and build an LNG-fuelled feeder vessel;
– agree technical designs and plan approval for retrofits or newbuild LNG-fuelled vessels and for additional bunker-supply infrastructure in port;
– find synergies with other uses for LNG;
– develop sustainable LNG trading and pricing; and
– create financial instruments to support port and vessel installations.
