1. “The Employment of LNG in East Mediterranean” “The Employment of LNG in East Mediterranean” Dr Panayotis Zacharioudakis, R&D Director OceanFinance Efficient shipping operations – Transport and Traffic Management, safety and the Human element

2. VENICE, Motorways of the Sea Conference on Efficient Shipping Operations 1  Introduction  Poseidon-Med Project @ a Glance  Facts and Figures  Consortium  Towards LNG Era

3. VENICE, Motorways of the Sea Conference on Efficient Shipping Operations 2  Mainly Scope :  Create LNG Bunkering in East Med with Piraeus as a Hub – (Hub & Spoke Network)  But also:  Distribute LNG Cargoes to Satellite Ports and LNG Import Terminals  Increase Security of Supply & Diversification of Sources and Routes  Explore Synergies with TEN-T Urban & Transport Network & Energy Production

4. VENICE, Motorways of the Sea Conference on Efficient Shipping Operations 3  Sulphur Cap in ECAS, EU and Worldwide LNG is The Most Efficient Alternative For the Forthcoming Emission Targets in SOx, NOx, Particles & CO2 !!

5. VENICE, Motorways of the Sea Conference on Efficient Shipping Operations 4  New Supply Sources:  Qatar (QEnergy – RasGas Agreement)  High Potential from Gas Fields in Cyprus, Israel, Libanon, Egupt & Greece!!!!

6. VENICE, Motorways of the Sea Conference on Efficient Shipping Operations 5  POSEIDON-MED Study Phase (end 2013- end 2015) :  Studies for:  LNG Network. Supply and Demand  Legislations and Regulatory framework in Offshore and Onshore installations  LNG Infrastructure & Installations  Risk Assessment  Sustainable Financing

7. VENICE, Motorways of the Sea Conference on Efficient Shipping Operations  Integrated Maritime Supply Chain for LNG in Italy  Local Assessments - Master Plans on LNG as Fuel for NAPA & other Italian Ports

8. VENICE, Motorways of the Sea Conference on Efficient Shipping Operations 7 Piraeus is the Textbook case for LNG Implementation due to Coastal Ferries !!! Enormous Potential in the Regional Port Systems of NAPA, the West Coast of Italy & the Black Sea

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11. 10  Revithoussa Hub Tariff Policy (Assuming 20% Co-Funding) Surcharge for Bunkering Logistics in Port of Piraeus:1.0 $/MMBtu Reference from North is : 2,5 - 4 $ / MMBtu Surcharge per MMBtu for Satellite Ports:0,4 $/MMBtu

12. VENICE, Motorways of the Sea Conference on Efficient Shipping Operations 11  RoPax (LNG vs Scrubber) in Piraeus - Crete Line Scenario A: Full Scale Retrofit (4 Engines): 16 m€ (LNG) vs 6,5 m€ (Scr) Scenario B: Partial Retrofit (2 Engines): 8,5 m€ (LNG) vs 3,5 m€ (Scr)

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14. VENICE, Motorways of the Sea Conference on Efficient Shipping Operations 13  CO 2 45%   PM, NO X & SO X are Practically Eliminated

15. VENICE, Motorways of the Sea Conference on Efficient Shipping Operations 14  Based on the Lessons Learned from the North : Establish a Self-Sustained System Accomplish Synergies, Efficiencies & Economies of Scale Brake the Chicken & Egg Problem  Only through Simultaneously Development of all the Critical Supply and Demand Infrastructure in the Region

16. VENICE, Motorways of the Sea Conference on Efficient Shipping Operations 15  Global Project Βudget (Greece) 0,5 b € :  Port Related installations: 220 m€  Piraeus & Revithoussa Hub upgrade ≅20 m€  Patra, Heraklion Ports Infrastructure ≅100 m€  Bunkering Means (small LNG, Burges & LNG Trucks) ≅100 m€  Vessels Related Installations: 280 million€  Vessels Retrofits to LNG ≅8 x 15 (=120) m€  LNG fuelled New buildings ≅2 x 80 (=160) m€ The Project (Greek part) Has Been Listed as a Candidate Project in the Juncker Plan / (EFSF).

17. VENICE, Motorways of the Sea Conference on Efficient Shipping Operations  Project Leader :  Project Technical Manager:  Technical Services:  Classification Society 16

18. VENICE, Motorways of the Sea Conference on Efficient Shipping Operations  Ports:  Operators: 17

19. VENICE, Motorways of the Sea Conference on Efficient Shipping Operations  Supporters: 18

20. VENICE, Motorways of the Sea Conference on Efficient Shipping Operations Dr Panayotis Zacharioudakis R&D Director E pzacharioudakis@oceanfinance.gr 23 Psaron Street, 185 46 Piraeus, Greece www.oceanfinance.grpzacharioudakis@oceanfinance.gr