Greek Energy Directory 2 0 1 6
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) ENERGIA•gr Greek Energy Directory 2 0 1 6 t n e m Business The Oil Sector Natural Gas The Electricity SectorRenewable EnergyEnergy Sources Efficiency &The Co Genera2on Legal FrameworkResearch & DevelopDirectory TERNA ENERGY is a major player in the Renewable Energy Market and specifically in the development of Wind Parks, in Hydroelectric Projects, Solar Energy Plants as well as Waste to Energy and Biomass Projects, with presence in Greece, Europe and the USA. The total installed capacity of the Group accounts for 664 MW: 394 MW in Greece, 138 MW in the USA, 102 MW in Poland and 30 MW in Bulgaria, while 274 more MW are currently under development in Greece and abroad. Overall, the company operates, is constructing or has fully licensed 938 MW of RES installations in Europe and the USA. The company is targeting to reach almost 1,000 MW of RES projects in operation in all countries where it is active, over the following years. T A B L E O F C O N T E N T S Publisher’s Foreword 9 Preface by the Minister of Environment and Energy, Mr. PANOS SKOURLETIS M.P. 11 1. An introduction to Greece’s Energy Sector by COSTIS STAMBOLIS, Execu=ve Director, IENE and Managing Editor of Energia.gr 14 2. The Oil Sector Overview of Greece’s Oil Sector by COSTIS STAMBOLIS 40 Hellenic Petroleum, A Market Leader in SE Europe by GRIGORIS STERGIOULIS, CEO, HELPE 49 Hydrocarbon E &P sector: When the Vision Becomes a Reality by Professor SOFIA STAMATAKI, ex - Chairman, Hellenic Hydrocarbons Managements Company (ΕΔΕΥ) 53 A New Era for Greece’s Upstream Sector by MATHIOS RIGAS, CEO, Energean Oil & Gas 61 Greece’s Oil Retail Market by DIMITRIS MEZARTASOGLOU, Research Associate, IENE 67 3. Natural Gas Developing Greece’s Natural Gas Market by THEODOROS KITSAKOS, CEO, DEPA 82 Overview of the Greek Natural Gas Market by GEORGE PAPARSENOS, Independent Consultant, Oil and Gas, ex-CEO, DESFA 87 Mee+ng Security of Supply and Gas Market Integra+on Challenges in South Eastern Europe and The Role of Greece by SPYROS PALAIOGIANNIS, Independent Energy Consulatant and ex-CEO, DEPA 98 Gas Market Developments in East Mediterranean by CHARLES ELLINAS, Chief Execu=ve Officer, e-CNHC 101 Strengthening Energy Security in Greece and the Region: The Alexandroupolis FSRU Terminal by GASTRADE 107 Greek Energy Directory 3 4. The Electricity Sector Overview of Greece’s Electricity Market by TASOS MASTRAPAS, Research Associate, IENE 108 The Key Role of Public Power Corporara+on in Greece’s Electricity Market by EMM. PANAYIOTAKIS, Chairman and CEO, Public Power Company (PPC) 130 The Greek Electricity Market at Crossroads by GEORGE STAMTSIS, Managing Director, HAIPP 133 The Importance of Energy in Industrial Produc+on in Greece & the Role of UNICEN by COSTAS KOUKLELIS, Chairman, UNICEN (EBIKEN) 138 Hellenic Electricity Transmission System: Current Status & Development Outlook by EMM. KORONIOTAKIS, Chairman & Deputy CEO, Independent Power Transmission Operator (IPTO) S.A. 145 Electricity Market and the Role of LAGIE by MICHALIS FILIPPOU, Chairman, Operator of Electricity Market, LAGIE 154 The Role of Electricity Trading in Safeguarding Greece’s Electricity Supply by CONST. ATHANASIADIS, Chairman, HAETSC (ΕΣΕΠΗΕ) 159 5. Renewable Energy Sources Renewable Energy Applica+ons in Greece: Challenges and Opportuni+es by JOHN CHADJIVASSILIADIS, Chairman, IENE 164 Greece: In Urgent Need of an Investment Shock by GEORGE PERISTERIS, Chairman of Hellas RES and Chairman, TERNA Energy 169 The Reboo+ng of the Greek PV Market by SOTIRIS KAPELLOS, Chairman, SEF 174 Developing Greece’s Biomass Poten+al by ANTONIS GERASIMOU, Chairman, HELLABIOM (ΕΛΕΒΙΟΜ) 176 Greece’s Small Hydro Poten+al, Current Applica+ons and Development Prospects by ELIAS KAKIOPOULOS, Secr. General, Micro Hydro Power Hellas 180 Greece’s renewable and photovoltaic market in transi+on by STELIOS LOUMAKIS, Chairman, SPEF 189 The Elusive Na+onal Treasure: Greece’s Wind Energy Poten+al, Current Applica+ons and Future Outlook by JOHN TSIPOURIDIS, Chairman, Hellenic Wind Associa=on 192 6. Energy Efficiency and Co Generation Cogene ra+on of Power and Heat in Greece by CONST. THEOFYLAKTOS, Chairman, Greek COGEN 200 Energy Performance of Hellenic Buildings by CONST. BALARAS, Vice President, ASHRAE 205 7. The Legal Framework An Overview of the Legal Framework of the Greek Energy Sector by GUS PAPAMICHALOPOULOS, Senior Partner, KG Law Firm 212 8. Research and Development Energy Research & Development in Greece By NICHOLAS SOFIANOS, Research Coordinator, Ins=tute of Energy for SE Europe 234 ENERGY RESEARCH IN GREECE A list of Greece’s major research centers and leading university teams engaged in energy related work 237 9. Business Directory State En++es and State Controlled Organisa+ons in the Energy Sector 244 Energy Industry Associa+ons in Greece 245 Energy Companies in Greece 246 Greek Energy Directory 5 Greek Energy Directory 2 0 1 6 Editor: COSTIS STAMBOLIS GED.Last:Layout 1 9/13/16 11:58 AM Page 8 GREEK ENERGY DIRECTORY 2016 Published by EditCom Ltd 3, Alex. Soutsou, 106 71 Athens, Greece Tel.: 0030 210 3628457, 3640278 fax: 0030 210 3646144 www.energia.gr, e-mail: [email protected] Layout: Ariadni Kalokyri Copyright © 2016, EditCom Ltd Athens, September 2016 ISSN 2529-0878 All rights reserved. No part of this study may be reproduced or transmi!ed in any form or by any means without the prior writ- ten permission of the EditCom Ltd. Please note that this publica on is subject to specific restric ons that limit its use and dis- tribu on. Foreword s Greece is slowly coming out from the worst recession in its history the energy sector is expected to play a key role in suppor=ng a return to economic growth. Apart from pro- viding much needed infrastructure for the use of different forms of energy, ranging from Αelectricity, oil and gas to renewables, energy efficiency and co-genera=on, the energy sector is a>rac=ng much needed investment for new projects, but also for marke=ng ac=vi=es follow- ing electricity and gas market deregula=on and rising compe==on. The ongoing priva=za=on programme of major state controlled enterprises in electricity and gas is a>rac=ng further in- vestor interest together with Greece’s effort to exploit its considerable hydrocarbon resources. “Greek Energy Directory 2016” aims to provide a thorough descrip=on of the current state of Greece’s energy sector but also project an outlook of likely developments in the years ahead. The industry’s response to our request for informa=on and individual contribu=ons through ar=cles and descrip=on of company ac=vi=es, has been overwhelming necessita=ng post- ponement of CED’s publica=on, originally scheduled for early 2016. Consequently “Greek En- ergy Directory 2016” has outgrown its scope and has become a truly comprehensive source of informa=on on Greece’s buoyant energy sector. This Energy Directory is designed to meet the informa=on needs of both the investor and en- ergy entrepreneur alike and the energy professional at large. A series of ar=cles and analysis by well known energy experts and senior execu=ves of the sector’s leading companies provide useful background on all aspects of energy related ac=vi=es in Greece. Furthermore, a well re- searched list of companies and organiza=ons of the Greek Energy Sector compliments the body of knowledge presented in this publica=on. Star=ng back in 1984 when I first published a “Greek Energy Directory”, through Heliotechnic Ltd., and then in 2001 when I edited “The Energy Mar- ket in Greece”, jointly published by ICAP and Delos Communica=ons, the present publica=on comes to fill an important informa=on gap. I trust that “Greek Energy Directory 2016” will prove both useful and inspiring for all concerned and engaged in one of the most dynamic sectors of the Greek economy. COSTIS STAMBOLIS Publisher, Greek Energy Directory 2016 Greek Energy Directory 9 Preface oday we are seeing a favourable situa=on emerging in Greece’s energy sector which, to- gether with the serious ins=tu=onal changes promoted by the EU in the energy markets, can help towards the implementa=on of major transna=onal projects such as the Trans TAdria=c Pipeline (TAP), but also assist in the explora=on of new energy resources and, the "re- discovery" of exis=ng and conven=onal ones. Despite the economic “malaise” which characterizes this pe- riod, nobody can ignore the reality of expanding energy needs in Europe. Energy efficiency, energy security, plurality of sources and supply routes, remain extremely important issues because they form an undeniable founda=on for both our eco- nomic development and stability. Greece is dynamically and effec=vely claiming the righ<ul place she deserves in the fast developing energy environment, in order to enhance its role in the regional energy crossroads. This can be achieved through the implementa=on of a mul=di- mensional energy policy, within the country and abroad. Oil, natural gas, electric power, Renewable Energy Sources, energy efficiency and energy con- serva=on are some key areas which this publica=on aptly covers. At the same =me, all of the above are challenging areas, to which we must respond and take decisive steps forward. Economic growth, employment crea=on, the a>rac=on of new of investment and the crea=on of a long term viable produc=ve model, which is immune to the vicissitudes of the global econ- omy, are the main goals within the present energy context. With this aim we intend to develop and adopt appropriate measures and interven=ons with regard to Greece’s energy sector. The coming years will be years of progress.