The project consists of exploiting the almost depleted underwater natural gas field of South Kavala as an underground natural gas storage (UGS). The almost depleted field "South Kavala", due to its geology, size, proximity to the southern pipeline, the existing infrastructure and its uniqueness in Greece, is ideal for the proposed use.
The "South Kavala" gas field covers an area of 5 km2 and is located in the Gulf of Kavala, 11 kilometers south of the "Prinos" oil field and at a depth of 1.700 meters.
The Underground Natural Gas Storage Facility in South Kavala is an energy infrastructure that will enhance security of supply in the Greek market and will improve the management of the natural gas suppliers' portfolio. This infrastructure will make a decisive contribution in optimizing its operation (gas hub) and will enhance the energy security of the gas market (security of supply) at both national and European level for the benefit of the final consumer.
According to the preliminary planning of the project, the underground gas storage capacity (UGS) is estimated at 1bcm. The Annual Volume throughput is estimated at 360 million Nm3 or 720 million Nm3 for one or two cycles per year, respectively. The maximum daily extraction rate and natural gas injection rate in the National Natural Gas Transmission System (ΕΣΜΦΑ) is estimated at 4 million Nm3/d. The maximum daily injection rate of the Underground Gas Storage with Natural Gas, is estimated at 5 million Nm3/d.
Currently, the South Kavala gas field in the Thracian Sea is in use by Energean Oil & Gas S.A.
It is noted that the project has been already included in the list of Projects of Common Interest - European Commission (PCI) adopted on 17 October 2017 by the European Commission and the Member States in the PCI Regional Group Meeting.
The project has been included in HRADF’s Asset Development Plan and within this context the best available option for the development and commercial exploitation of the asset as a natural gas storage facility shall be assessed.
Financial: PricewaterhouseCoopers Business Solutions S.A.
Legal: Rokas Law Firm