AKTOR agrees to buy 50% of Motor Oil's FSRU Dioriga Gas, adding 4.3 bcm annual LNG capacity to Greece's energy system

The framework agreement

AKTOR Group and Motor Oil announced a preliminary framework agreement on July 10, 2026, under which AKTOR will acquire a 50% equity stake in Dioriga Gas. The subsidiary, fully owned by Motor Oil until now, is developing a floating storage and regasification unit (FSRU) in the marine area of Agioi Theodoroi, Corinthia, near Motor Oil's refinery facilities.

The completion of the transaction remains subject to the signing of definitive contractual documents and the receipt of corporate, regulatory and other required approvals.

A new gas import gate

Planned as Greece's third LNG import gate after Revithousa and Alexandroupoli, the Dioriga Gas FSRU will be the country's second floating infrastructure of its kind. The unit has a licensed maximum supply capacity of 4.3 billion cubic meters per year and will add between 170,000 and 210,000 cubic meters of LNG storage capacity. It is designed to connect to the National Natural Gas Transmission System, creating a new entry point for both the Greek market and the markets of Southeast and Eastern Europe.

A key infrastructure for the vertical energy corridor of Southeast Europe.

Early in 2023, the project was included in Greece's Strategic Investments framework with an originally approved budget of 339.6 million euros.

Breaking the LNG infrastructure monopoly

Until now, DESFA, the Hellenic Gas Transmission System Operator, maintained a de facto monopoly over LNG import infrastructure through its terminal at Revithousa. The Revithousa facility covered 43% of Greece's total gas imports during the first half of 2026, a share that continues to grow. With the EU's 2027 ban on Russian gas arriving via Turkstream through the Sidirokastro entry point, Revithousa and, to a lesser degree, the Alexandroupoli FSRU have been the country's primary alternatives.

The entry of AKTOR and Motor Oil into the FSRU segment introduces a structural shift, potentially disrupting plans by the Copelouzos Group for a second FSRU (Thrace FSRU) after the Alexandroupoli project.

Strategic rationale and the Vertical Corridor

For AKTOR, the acquisition shifts the group from pure LNG trading into a vertically integrated model combining trading with physical infrastructure access. The group says the move offers higher profit margins and lowers delivery risk by guaranteeing regasification capacity. The investment fits within AKTOR's 2026-2031 business plan, which earmarks 3 billion euros in total capital expenditure including 190 million euros for FSRU investment.

AKTOR has already secured binding long-term LNG contracts totaling 1.5 billion cubic metres, corresponding to a secured turnover of 9 billion euros for the 2030-2050 period. The group is also pursuing additional agreements for a further 5 bcm.

For Motor Oil, bringing in a strategic partner broadens the project's financial, operational and commercial base. The company noted in late June that it was exploring partnership prospects for its gas activities. A memorandum of cooperation between Motor Oil and Mercuria was signed weeks earlier, covering capacity reservation and the commercial framework for the terminal.

What comes next

The agreement requires definitive contract documentation and multiple regulatory clearances. Its timing aligns with Greece's broader effort to become a regional gas hub for the Balkans and Central Europe, supported by the Vertical Corridor infrastructure initiative.