Motor Oil Hellas and Mercuria Energy are moving forward with a strategic partnership to develop the “Dioryga Gas” floating LNG terminal, bolstering the plan to transform Greece into a key gateway for natural gas imports to Southeast Europe.
The two parties signed a Memorandum of Understanding (MoU), which establishes the framework for long-term cooperation on the “Dioriga Gas” floating LNG storage and regasification unit (FSRU) “Dioriga Gas,” which is being developed by Motor Oil through its subsidiary Dioriga Gas in the Saronic Gulf.
According to the companies, the project is considered the most mature and advanced FSRU in Greece and is expected to play a critical role in diversifying natural gas supply sources, strengthening the region’s energy security, and enhancing the country’s geostrategic position in the European LNG market.
The agreement provides for phased cooperation on matters related to the reservation of regasification capacity, long-term LNG supply from Mercuria to Motor Oil via the terminal, as well as the joint development of the necessary commercial and operational framework to bring the project into commercial operation.
The two groups emphasize that the collaboration reflects a shared commitment to strengthening Europe’s energy security and to investing in critical energy infrastructure that will support a more reliable and diversified natural gas supply.