POWERGLOBE signs the first Mediterranean powerboat facility, using Qatari LNG

POWERGLOBE has agreed the installation of a 230MW net capacity powerboat in Atherinolakos port, Crete island. The project consist on develop, design, construct, own, operate, maintain gas to power facilities including Self-Installing Powerboats, Self-Installing Re-gasification Platforms, Floating Storage Units, and Autonomous Transfer Systems in Atherinolakos. The ”Power4Crete” project singed between POWERGLOBE (LLC) QATAR and the Regulatory Energy Authority (RAE), for 8 years power generation supply using LNG sources from ExxonMobil, QatarGas and Ocean LNG. The ”Power4Crete” project is the first integrated electricity project across Mediterranean sea, bringing together floating generation and FSRU facility. It is an ideal concept for electricity supply to non-interconnected places (islands) with the main land electricity grid, Dr. Youssef Hegazy said.

The ”Power4Crete” 2019 project singed between POWERGLOBE (LLC) QATAR and the Regulatory Energy Authority (RAE), for 8 years power generation supply using LNG sources from ExxonMobil, QatarGas and Ocean LNG (QGN picture with the mooring option)

Dr. Theodore Theodoropoulos (CEO of POWERGLOBE) and Mr. John Anagnostopoulos, Vice Chairman and Board Member of RAE, have highlighted the importance of the powerboat facility to the electricity integration and technology that could apply from emerging to developing markets, long term IPP projects to short and medium term bridge gap solutions. Powerboats could be fast truck, economical, high efficiency and fully integrated one-stop solutions. Furthermore, the project will connect Crete island with Qatari LNG and investigates all potentials for power integration across Mediterranean and Southern Eastern Europe, including Malta, Italy, Greece and Turkey. Qatari LNG should penetrate more to the European markets. Qatar was the European Union’s (EU) main LNG supplier with a 41 percent share in 2017, according to the European Commission’s (EC) latest report late Thursday. The EC said that Qatar was followed by Nigeria with 19 percent, Algeria 17 percent, Peru 7 percent, Norway 7 percent, the U.S. 4 percent and Trinidad Tobago 3 percent.

Additionally, POWERGLOBE highlights the great potential of power installation developments across the region, including CCGT, and renewable energy. Notice, that Qatar Petroleum holds a portfolio of 125MW CCGT in Greece (investment in March 2014), and plans for a portfolio in total of 1250MW including integrated power production.

Powerboat is a floating power plant,which can operate on both Natural Gas and Heavy Fuel Oil.Powerboat delivers the most competitive all-in cost of electricity with project sizes from small to utility scale.Powerboat is delivering Innovative and Flexible technical, contractual and financial solutions for a fast track implementation and eliminating completion and construction related risks and re-deployment  flexibility securing sustainable economics over the long life time of the  assets.

Powerboat is a turn-key solution covering the entire value chain, fuel supply to power  generation. It is improving environmental baseline, utilizing state-of-the-art  technologies and delivering a tangible instrument of change for migration to cleaner fuels. Powerboat is requesting minimal use of land for installation, delivering highest efficiency and availability, utilizing dual fuel engine gas turbine technology with significant savings per kWh. The ‘’power4crete’’ project for developing, designing,  constructing, owning, operating, and maintaining a gas to power facility which shall be a Self-Installing Powerboat and/or Platform (SPP) of 225MW Net Capacity, Self-Installing Re-gasification Platform (SRP), Floating Storage Units (FSU) of 120-150kcm, and Autonomous Transfer System (ATS) in Atherinolakkos, Crete.

Combine all of the elements along the value chain, including gas assets, marine facilities, transmission connections and the power plant into an integrated project group (named as: ‘’power4crete’’). The gas assets will be a powerboat station and the key drivers of the cost of power will include LNG supply, the gas infrastructure, O&M, and the duty cycle (base-load, cycling or peaking), and efficient level of the power plan.

Sources: Power Report’18, QGN, BBC, QP, PG Global, GTP Energy Review, Global RES, CNN Energy News, QEN,QNA, Reuters, RES Report, Energy Europe, FPP Global.