Mercuria Energy and Motor Oil Hellas (MOH) have signed a Memorandum of Understanding (MOU) to cooperate on LNG supply through the Dioriga Gas Floating Storage and Regasification Unit (FSRU) in Greece’s Saronic Gulf. The agreement outlines a framework for reserving regasification capacity and delivering long‑term LNG cargoes, a move aimed at bolstering Greece’s role as a regional gas gateway.
Mercuria and Motor Oil Hellas Sign MOU for Dioriga FSRU
The MOU establishes step‑by‑step cooperation on three fronts: (1) reservation of regasification capacity at the Dioriga terminal, (2) long‑term LNG supply by Mercuria to MOH for delivery via the FSRU, and (3) joint development of the commercial framework needed to bring the project to operation. Both parties described the partnership as a “shared commitment to support energy security in Europe” and to invest in infrastructure that underpins a reliable, diversified gas supply.
Dioriga Gas FSRU Project Overview
Developed by MOH through its subsidiary Dioriga Gas, the Dioriga FSRU is positioned as the most advanced and mature FSRU project in Greece. Located in the Saronic Gulf, the terminal is intended to serve as the optimal entry point for LNG imports not only for Greece but also for the broader Southeast European region. The project is expected to diversify gas supply sources, enhance regional energy security, and strengthen Greece’s status as a key LNG gateway for Europe.
Implications for Regional LNG Supply
The cooperation between Mercuria, a global independent energy trader, and MOH, a leading integrated energy group in Southeast Europe, adds a new layer of commercial certainty to the Dioriga FSRU. By securing long‑term LNG supply contracts, the MOU could help accelerate the terminal’s move toward commercial operation, thereby expanding import capacity in a region that is seeking alternatives to pipeline gas. The partnership also signals confidence from major market participants in the viability of Greece’s emerging LNG infrastructure.
Key Takeaways
- Mercuria and Motor Oil Hellas signed an MOU to cooperate on LNG supply through the Dioriga Gas FSRU in Greece’s Saronic Gulf.
- The agreement covers regasification capacity reservation, long‑term LNG delivery by Mercuria, and joint development of the commercial framework for the terminal.
- The Dioriga FSRU is described as the most advanced FSRU project in Greece and is positioned to serve Greece and the wider Southeast European region.
EnergyInsyte's Take
The MOU provides a concrete supply‑side commitment that could reduce uncertainty around the Dioriga FSRU’s commercial launch, an important factor for utilities and industrial buyers evaluating LNG import options. Executives should monitor the timeline for the terminal’s operational readiness and any subsequent contract details that may affect regional gas pricing and supply diversification.
Source: PRNewswire
