Greece’s first LNG bunker vessel to get €20 million financing

Public Gas Corporation of Greece (DEPA) and the European Investment Bank (EIB) have entered into an agreement to provide financing of up to €20 million (US$22.15 million) for the construction of a new LNG bunkering vessel for use in Greece.

With a capacity of 3,000 cubic metres of LNG, the vessel will be the first of its kind in Greece and the Eastern Mediterranean.

It will be supplied with LNG at the Revithoussa LNG terminal and will refuel ships both in Piraeus and other ports in Greece and the wider region.

The loan is guaranteed by the European Fund for Strategic Investments (EFSI/Juncker Plan) and will cover 50 per cent of the vessel’s construction cost. For the construction of the vessel, DEPA has secured an additional amount of €8.9 million (US$9.86 million) from the European Union under a DEPA-coordinated programme aimed at expanding the use of LNG in maritime transport in the eastern Mediterranean.

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