BUSINESS

Three offers made for gas storage facility off Kavala

TAGS: Energy

Greece has received three initial bids for a contract to develop and run an underground gas storage facility in the northern Aegean Sea, the country’s privatization agency said on Monday.

The agency (TAIPED), which manages the concession, said the bidders are China Machinery Engineering with Maison Group, the Hellenic Gas Transmission System Operator (DESFA) with GEK Terna, and Energean Oil & Gas.

The contract covers the development and operation of the storage facility, which is in an almost depleted deposit off the northern Greek city of Kavala, for up to 50 years.

The agency had extended a deadline for non-binding bids to yesterday from September 30.

The agency said it would evaluate the offers and decide which investors qualify to submit binding binds. T

The almost depleted “South Kavala” gas field, which is now run by Energean, has an estimated storage capacity of 1 billion cubic meters (bcm). [Reuters]

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