METLEN ENERGY & METALS S.A.
MYTILINEOS HOLDINGS SA - ANNOUNCEMENT - NATURAL GAS MARKET LIBERALISED - Arrival of a 140,000m3 LNG cargo imported by the MYTILINEOS-MOTOR OIL joint company
MYTILINEOS HOLDINS S.A. and MOTOR OIL announce the arrival of the LNG carrier "Methane Nile Eagle", carrying for the two companies 140,000m3 of LNG scheduled for unloading at the Revithousa LNG Terminal. The cargo is supplied by British Gas (BG), the world-known energy group, and comes from Equatorial Guinea of Central Africa.
Unloading is scheduled to start on 11 May 2010. From this shipment, 20,000m3 will be collected by MOTOR OIL, 70,000m3 by the MYTILINEOS Group subsidiary Aluminium of Greece, and 50,000m3 will be made available to the Public Gas Corporation (DEPA) on the same privileged terms as those applicable for the initial buyers, after a decision of the two Groups following a proposal by the DEPA.
After months of efforts, the initiatives of MYTILINEOS-MOTOR OIL joint venture finally let to a positive outcome, as the arrival of the first private LNG cargo marks the final opening of the Greek Natural Gas market. The seal on the liberalisation of the market was put by the Ministry for the Environment, Energy and Climate Change, which approved the Management Code of the National Natural Gas System, under which all users of the System are treated equally and given free access to the network and the freedom to select natural gas supplier from Greece or abroad.
In addition to helping improve the industrial production costs of the two large plants, Aluminium of Greece and MOTOR OIL, the liberalisation of the Natural Gas market is also expected to result to a downward pressure on electricity tariffs, with obvious benefits for businesses, households and the Greek economy.
For more details, please contact:
Mrs Katerina Mouzouraki, Group Press & Media Relations Supervisor (Tel.: 210-6877484, Fax: 210-6877400, e-mail: katerina.mouzouraki@mytilineos.gr).
The MYTILINEOS Group is a leading Greek industry active in Metallurgy & Mines, Energy, EPC Projects and the Vehicle Industry. Established in Greece in 1990, the Group's holding company, MYTILINEOS HOLDINGS S.A., is listed on the Athens Exchange, has a consolidated turnover of approximately €700 million and employs over 2,700 people in Greece and abroad. For more details, please visit the Group?s website at: www.mytilineos.gr.
Unloading is scheduled to start on 11 May 2010. From this shipment, 20,000m3 will be collected by MOTOR OIL, 70,000m3 by the MYTILINEOS Group subsidiary Aluminium of Greece, and 50,000m3 will be made available to the Public Gas Corporation (DEPA) on the same privileged terms as those applicable for the initial buyers, after a decision of the two Groups following a proposal by the DEPA.
After months of efforts, the initiatives of MYTILINEOS-MOTOR OIL joint venture finally let to a positive outcome, as the arrival of the first private LNG cargo marks the final opening of the Greek Natural Gas market. The seal on the liberalisation of the market was put by the Ministry for the Environment, Energy and Climate Change, which approved the Management Code of the National Natural Gas System, under which all users of the System are treated equally and given free access to the network and the freedom to select natural gas supplier from Greece or abroad.
In addition to helping improve the industrial production costs of the two large plants, Aluminium of Greece and MOTOR OIL, the liberalisation of the Natural Gas market is also expected to result to a downward pressure on electricity tariffs, with obvious benefits for businesses, households and the Greek economy.
For more details, please contact:
Mrs Katerina Mouzouraki, Group Press & Media Relations Supervisor (Tel.: 210-6877484, Fax: 210-6877400, e-mail: katerina.mouzouraki@mytilineos.gr).
The MYTILINEOS Group is a leading Greek industry active in Metallurgy & Mines, Energy, EPC Projects and the Vehicle Industry. Established in Greece in 1990, the Group's holding company, MYTILINEOS HOLDINGS S.A., is listed on the Athens Exchange, has a consolidated turnover of approximately €700 million and employs over 2,700 people in Greece and abroad. For more details, please visit the Group?s website at: www.mytilineos.gr.