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AICEP
Agência para o Investimento e Comércio Externo de Portugal

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Portugal will create a new liquefied natural gas re-export hub in the port of Sines, which will cost around €35 million, in order to reduce energy dependence on Russia.

Portugal will create a new liquefied natural gas (LNG) re-export hub at the Port of Sines, which will cost around €35 million, in order to deal with Europe’s extreme dependence on Russian natural gas, reports Jornal de Negócios.

 

The project will be carried out over several years and comprises different stages, one of which is building a new gas tank at the REN terminal, which may take up to two years and cost about €30 million.

 

In the short term, an optimization of the “ship-to-ship” operation capacity of the country’s largest deep water port is planned, with an investment of around €4.5 million. With this technology, the goal is for Portugal to be sending small methane carriers with liquefied natural gas to the rest of Europe within six months, according to the same newspaper.

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