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REN completes expansion project of the Sines LNG terminal

 

REN - Redes Energéticas Nacionais has completed the Sines Liquefied Natural Gas (LNG) expansion project with an investment of around 200 million euros. Regarded as one of the country's main energy infrastructures, the terminal strengthens its response capacity to the challenges of increasing supply security while simultaneously increasing competition in the national market.

The work in the second phase of the project, which began in 2009, has been completed within the time frame and in accordance with the initial budget of around 200 million euros. It included the construction of the third LNG storage tank as well as other facilities, such as new seawater circuits with an emission system and a third tanker filling bay.

As of now the REN Atlântico terminal has the capacity to accommodate larger vessels from anywhere in the world and thus help diversify supply sources and improve the country's supply security.

Capacity growth also allows more suppliers to access the terminal, increasing competition and benefiting the end consumer through improved access to the international LNG market at competitive prices.

This expansion also increases the energy mobilised by the Sines terminal, which currently accounts for 56% of the LNG annually consumed in Portugal. With the completion of this project, the terminal will have the capacity to respond to a substantially higher volume of gas which will also ensure the necessary flexibility to make it an LNG rotation platform on the international market, increase the use of the infrastructure and thereby reduce the cost for portuguese consumers.

During the ceremony that took place today at the Sines LNG platform, Rui Cartaxo, CEO of REN, stated that "the completion of this project contributed to energy supply security in Portugal and to increasing competition in the national market."

Significant facts:

• Total investment of around 200 million euros;

• Storage may reach 390,000 m3 of liquefied gas;

• The efficiency and costs of use of the terminal make it one of the key terminals in the Iberian Peninsula;

• Increase in the country's natural gas competitiveness.