Costa II East - Poseidon Med
The Masterplan for the adoption of LNG as Fuel in the Mediterranean Sea
Poseidon Med is the first LNG bunkering project in the Mediterranean and Adriatic Sea
crossing European borders aiming at introducing LNG as the main fuel for the world shipping industry and develop a sufficient infrastructure network of bunkering.
The project aims to design a comprehensive value chain for the use of LNG as marine fuel in East Mediterranean and Adriatic Sea, including the development of an LNG transportation, distribution, and supply network, as well as the establishment of a well-functioning and sustainable related market for its demand.
Project Leader is Qatar Energy Europe, with the support of other partners from Cyprus, Greece, Italy, Slovenia and Croatia. The Port Authority of La Spezia, Venice and Trieste, Contship Italia and the Grimaldi Group are the Italian partner for Poseidon Med.
The project has a fivefold target for the establishment of a comprehensive LNG network in the East Mediterranean area, the development of a sustainable market for LNG as marine fuel, the revival of the shipping industry in the area, and the increase in 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.
A specific assessment is foreseen for the Northern Adriatic, in order to examine the potential for LNG as marine fuel in the NAPA Ports – North Adriatic Port Association - and explore the stakeholders’ view of the area on this alternative fuel. A set of targeted but preliminary master plans for LNG as fuel is expected for selected important sea terminals. Therefore local assessments related to the state of the art of alternative fuels availability, infrastructures and logistics distribution for each port of Venice, Trieste, Koper and Rijeka will be undertaken.
Project duration: 01/12/2013 – 31/12/2015
Total Project budget: € 5.126.250,00
Budget Venice Port Authority: € 152.000
Budget NAPA: 322.000
Project link: www.poseidonmed.eu