The Hellenic Republic Asset Development Fund (HRADF) has announced that the international tender for the concession of the use, development and operation of an underground natural gas storage facility (UGS) has been completed without submission of offers in Kavala, Greece.

In the near future, HRADF plans to evaluate the state of the international natural gas markets to explore the feasibility of initiating a fresh global tender for the construction of a UGS facility. Additionally, in accordance with the REPowerEU strategy to decrease reliance on imported fossil fuels and improve the energy security of member nations, the option of storing hydrogen will also be assessed.

The project involves the concession of use, development and operation of an underground natural gas storage facility (UGS) in South Kavala, Greece. 

The almost depleted natural gas field “South Kavala” is located in the southwestern part of the Prinos-Kavala basin, at 52 m of water depth in the North Aegean Sea, about 6 km off the west coast of Thassos.