Activity 1: LNG Network. Supply and Demand

The aim of the activity is to present a full study on how to create a strong LNG bunkering network within the Motorway of the Sea of South-East Europe connecting the Adriatic Sea to the Ionian Sea and the Eastern Mediterranean including Cyprus. To achieve this aim several studies are to be implemented for analyzing the supply and sources, the demand, the logistics and the supply chain. The beneficiaries are making a thorough assessment of solutions to bottlenecks and obstacles that prevent the creation of LNG bunkering network and of the planning of the infrastructure and the network of facilities (e.g. bunker terminals) needed to be in place.

Activity 2: Legislation and Regulatory Framework for the adoption of the LNG as fuel in Offshore and Onshore installations

The aim of the activity is to analyze and evaluate the identified gaps with a view to forming a solid regulatory framework for the application of LNG as Marine Fuel in offshore and onshore installations in Greece. To complete this activity the beneficiaries are currently reviewing rules in force for LNG ships, bunkering procedures standards and guidelines.

Activity 3:  LNG Infrastructure and Installations

The activity determines the needs for infrastructure in the ports of Piraeus and Limassol. The beneficiaries are analyzing onshore facilities and mobile means potential in order to bridge the basic infrastructure with the supply network and complete the total LNG value chain for Poseidon Med. The activity is also studying the necessary technical steps for the retrofit of the vessels that will participate in this study. A small number of distinct and representative types of vessels will thus be identified as potential cases for LNG retrofit. At the same time the necessary technical steps for the retrofit of the vessels that will participate are under study.

The Economic Tool developed as part of Activity 3 of PMED I evaluates a vessel LNG retrofit decision in order to comply with the 2020 Sulphur cap. The user of the tool has to complete the “Parameters” sheet where certain data for the vessel operational profile, CAPEX and OPEX requirements for three alternative greener solutions (MGO, LNG and LSHFO). Then by pressing on the “Evaluation Report” tab on the left the user can see the results report were the competitive solutions are ranked with respect to their financial performance.

PoseidonMed - Economic Tool

Activity 4:  Integrated Maritime Supply Chain for LNG

The overall aim of this activity is to define future scenarios about the implementation of a transport chain based on LNG in the Port of La Spezia, including four scenarios. 1. The maritime side (LNG supply chain, Vessel bunkering, Tug bunkering, LNG port facilities).  2. The port operation side (use of LNG for cranes / reach stackers or other operational equipment).  3.  The land side (use of LNG for train shunting, shuttle trains to inland terminal and LNG trucks for final delivery). 4. Further opportunities linked with regasification plants located close to a container terminal (cold logistics)

Activity 5: Risk Assessment

The objective of this activity is to complete a risk assessment and establish risk acceptance criteria which are addressing hazards and operability issues related with LNG as a marine fuel. More specifically, this will comprise the use of LNG as a fuel in the two case studies and LNG bunkering infrastructure in ports as described in activity 3. Risk qualification will be presented as a product of the likelihood (frequency) of any adverse occurrence, and the impact of such an adverse effect (consequence).

Activity 6:  Sustainable Financing

The aim of this activity is to formulate sustainable financing practices in projects involving retrofit of vessels that use LNG as fuel. Sustainable financing of these projects means that funding should be available to “good” projects independently of the stage of the economy. The aim is to render LNG fuel investments sustainable by using financing practices that reduce, as much as possible, cases of funding “bad” projects or of rejecting the funding of “good” projects. The activity describes solutions that overcome initial inertia, by exhibiting objective viability assessment methodology that quantifies investment risk and provides a clear sign for execution of the investment or not.

Activity 7:  Local Assessments of Northern Adriatic Ports

The aim of the activity is to examine the potential for LNG as marine fuel in the Northern Adriatic Ports as well as on the other selected Italian ports (e.g. Gioia Tauro) and explore the area stakeholder’s view on this alternative fuel. A set of targeted but preliminary master plans for LNG as fuel are in preparation, in addition to revealing the obstacle and ways to overcome them. A set of targeted but preliminary master plans for LNG as fuel is expected for selected important sea terminals.

Activity 8: Management and Dissemination Activities

This activity covers the management and the dissemination the activities of the Action. Adequate coordination, control procedures, quality and risk management and monitoring mechanisms are provided. Dissemination activities are aiming at public awareness and at promotion of the action amongst relevant stakeholders.