Legal and Policy Issues While Evaluating the Sustainability of a Floating Storage Regasification Unit: The Case of Alexandroupoli Greece

Abstract

Floating Liquid Natural Gas (FLNG) facilities are increasingly being used in developing countries since floating regasification and storage units (FSRU) are proven to be more cost-effective per thermal unit than traditional land-based facilities. The purpose of this study is to assess the main issues and the sustainability of an FSRU project, namely the regional and international energy policies and the need to develop a novel regulatory framework, considering all relevant international policies and legislation. Therefore, the Alexandroupoli FSRU was elected because it has several advantages for Greece, the Balkans and the European Union since it supports the basis for a competitive, secure and time-consuming energy market. In addition, the project helps the E.U. to achieve its energy goals and climate objectives in line with the Paris Agreement and provide affordable, safe and sustainable energy to all citizens. Most importantly, the project was elected to demonstrate the volatility of this specific market in light of the Russo–Ukrainian conflict.