Greece’s Desfa Calls for Bids to Build Third LNG Storage Tank

Desfa SA, a Greek natural gas grid operator, invited international investors to bid for the design and construction of a third liquefied natural gas storage tank at its Revithoussa LNG terminal facility near Athens.

The tank, expected to cost as much as 115 million euros ($150 million), will have capacity of 95,000 cubic meters and will increase the facility’s total LNG storage to 225,000 cubic meters, Athens-based Desfa said in a statement today.

Desfa will begin work in the coming months to upgrade port facilities at Revithoussa so the terminal can serve LNG ships with carrying capacity of 260,000 cubic meters compared to the current limit of 135,000 cubic meters. The upgrade is scheduled for completion in 2015.

Greece plans to sell Desfa, a fully owned unit of state- run gas supplier Depa SA, either as a separate entity or together with its parent, Energy Minister George Papaconstantinou said Feb. 15.

To contact the reporter on this story: Paul Tugwell in Athens at ptugwell1@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net

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