Greece has invited bidders to enroll in a tender to get a 50-year right under concession on use of an underground natural gas repository in the nearly emptied South Kavala field, the Hellenic Republic Asset Development Fund (HRADF) said in a statement on Monday
ATHENS (Pakistan Point News / Sputnik - 29th June, 2020) Greece has invited bidders to enroll in a tender to get a 50-year right under concession on use of an underground natural gas repository in the nearly emptied South Kavala field, the Hellenic Republic Asset Development Fund (HRADF) said in a statement on Monday.
"The Hellenic Republic Asset Development Fund, following the decision of its board of Directors, has launched an international public tender process for the concession of the use, development and operation of an underground natural gas storage facility [UGS] in the almost depleted natural gas field of 'South Kavala,'" the statement read.
The declared concession period is for 50 years once the South Kavala UGS gets licensed. The gas is expected to have its end consumer both in Greece's domestic market and the greater region of Southeastern Europe.
According to the statement, the tender will be held in two stages: first, interested candidates will submit an application and get pre-qualified, and then selected applicants will submit binding offers for the HRADF to choose the concessionaire.
The HRADF has invited applicants to submit a statement of interest by the deadline of August 31, 2:00 p.m. Greek time (11:00 GMT).
The reserve in question is located 7 miles from the Thassos island into the southwestern part of the Prinos-Kavala basin in the Aegean Sea at a 52-kilometer (32 miles) depth.
