Mercuria Energy and the Vardinoyannis family-led Motor Oil Hellas signed a memorandum of understanding establishing a framework for long-term cooperation in connection with the Dioriga Gas Floating Storage and Regasification Unit (FSRU) project in Greece’s Saronic Gulf.

The Dioriga Gas FSRU, being developed by Motor Oil Hellas through its subsidiary Dioriga Gas, is strategically located in the Saronic Gulf.

Under the agreement, the parties have worked on step-by-step cooperation regarding regasification capacity reservation at the terminal, the long-term supply of LNG by Mercuria to Motor Oil Hellas for delivery through the Dioriga Gas FSRU, and the joint development of the framework required to bring the project to commercial operation.

According to Mercuria, the project represents the optimal solution for LNG imports into Greece and the wider Southeast European region.

Mercuria Energy also emphasized that the collaboration reflects a shared commitment to strengthening Europe’s energy security and to investing in critical energy infrastructure that will support a more reliable and diversified natural gas supply.

Founded in Geneva, Switzerland, Mercuria operates globally with activities across more than 50 countries. The company is active across the energy value chain, including crude oil, refined products, natural gas, LNG, power, renewable energy, and metals.

On the other hand, Greece-based energy group Motor Oil (Hellas) has a diversified presence across refining, fuels marketing, natural gas, electricity, and renewable energy.