The Lloyd’s List awards the first Cross-Border-European LNG Bunkering Project…

Dr. Theodore receives the Lloyd’s List Award for “Technical Achievement”

The ‘’POSEIDONMED’’ LNG Bunkering Project received the “Technical Achievement” Award at the Lloyd’s List Greek Shipping Awards 2014. During this uniquereception, which took place on Friday 5th of December in Athens, Dr. Theodore Theodoropoulos received the trophy accompanied by Jose Anselmo – the TEN-T Policy Director of the European Commission and Theodosis Stamatellos – Marine Area Manager of Lloyd’s Register GEMA. The event opened with a speech by Η.Ε. Miltiadis Varvitsiotis, the Minister of Greek Shipping and the Aegean, andattended by H.E. Soltan Saad Al-Moraikhi, the Ambassador of Qatar in GreeceEuropean Commission representatives, world ship-owners, Energy Co Chairman’s and CEO’s, shipbuilders and shipyards, fleet management Executives and brokers, NG and LNG producers, and distinguished guests from worldwide.

Dr. Theodore, who leads and coordinates the POSEIDON-MED, during his acceptance speech mentioned that “this promising project is really important for Mediterranean and Adriatic region with a wide range of  benefits for many European Countries, as Greece, Italy, Cyprus, Croatia, Slovenia, Malta, etc. Additionally, cost savings for the ship-owners, new foreign investments capital, new job opportunities at many sectors,  compliance with the new regulations for the emission of the European Union, stronger synergies with top global energy players, gas producers, engine manufactures, shipyards and  energy transportation companies. 

Mr. Jose Anselmo said that ’’POSEIDON-MED, as the first European Cross-Border project which aims to introduce LNG as the main fuel for the world shipping industry and develop a sufficient infrastructure network of bunkering value chain. Additionally, the project will support the European diversification of energy sources – mainly from Qatar and other producers – and increase the energy storage capacity for SE Europe, converting the port of Piraeus into an energy hub of the Mediterranean and Adriatic Sea’’.

Additionally, he added that ‘’As the project has successfully passed the first test of the TEN-T Policy getting the approval for the initial stage, the European Commission shows a great support to the implementation phase of the project, with a total budget of €26.2 billion has been allocated to co-fund TEN-T projects in the EU Member States for the period 2014-2020, of them €11.93 billion has been allocated for the 2014 CEF Transport Call. The POSEIDON-MED Project aims to design a comprehensive value chain for the use of LNG as marine fuel, including the development of an LNG transportation, distribution, and supply network, as well as, the establishment of a well-functioning and sustainable relevant market for its demand‘’.

POSEIDON-MED has a fivefold target for the establishment of a comprehensive LNG network in the East Mediterranean and Adriatic area, the development of a sustainable market for LNG as marine fuel, the revival of shipping industry in the region, and the increase of fleet competitiveness, efficiency, and sustainability while at the same time providing substantial environmental benefits, meeting the forthcoming stricter environmental regulations, and allowing easy compliance with the most recent EU directives. Additionally, the storage and regasification facilities will maximize the energy security of South Eastern Europe.

Mr. Theodosis Stamatellos, said that ‘’the POSEIDON-MED is a priority project for Lloyd’s Register which having an extended experience in Shipping Industry, Energy Sector and LNG Projects will put their effort in order to successfully complete it and mark Greece as the centre of LNG Bunkering on the map of in the East Mediterranean’’.  The Lloyd’s List Greek Shipping Awards has completed a decade of recognizing excellence in world shipping and the annual awards dinner is itself well-established as the biggest awards gathering in the shipping industry.