Jul. 12, 2021


Theodore Theodoropoulos

Qatar

Theodore Theodoropoulos

CEO, Powerglobe

BIO

Theodore Theodoropoulos is one of the most influential people in the global energy industry, holding an outstanding record of professionalism in energy financial economics and project valuation in LNG, natural gas, and energy transportation value chain with many business and academic achievements across GCC, Europe, and Asia. He also contributes to the LNG market development in Southeast Europe, actively participating in the liberalization process of the NG energy sector and opening the door for the first LNG deliveries from Qatar to the nearest import terminals in Southeast Europe.


Can you guide us through your main LNG-related activities in Qatar?

In Qatar, our main target is to use the Qatari LNG to facilitate international markets. Powerglobe does not carry out many activities in Qatar in terms of LNG, as we are not LNG consumers in the country. We try to facilitate projects in Qatar as developers, though our main target is to export the Qatari LNG, especially to European markets. We also want to facilitate our power to LNG facilities which will help us achieving our primary objective. As stated above, if there is any large-scale integrated project in power, electricity, renewables or anything related to power generation, we try to be actively involved. Actually, we are involved in many projects in Qatar, whether chemical, petrochemical, or power generation-related projects. For instance, we have been involved in the 1,000-MW solar development in the country, and Qatar Powerglobe will be extremely active in the North Field expansion project.

What are the most relevant specifications and benefits of Powerglobe's LNG to power facilities?

They are smart facilities because they combine power and LNG at the same unit. Today, the way power plants operate is that they deliver LNG to floating storage and regasification units (FSRU) and then these units convert it to natural gas, whereas electricity is produced in different units. To combine LNG with power, one or two units are needed between the two processes, and with this facility only one unit is needed; there is an evident resource and cost efficiency as a result. Now, the same facility receives, stores, and gasifies the LNG and produces electricity. It is an ideal scenario. Powerglobe developed this facility and Siemens provided the steam turbines. Based on estimates, this new facility can produce electricity at less than 50% of the traditional facility cost and with 10% more efficiency. Moreover, operation and maintenance costs are also low in comparison. However, the success of this story depends on the LNG prices. If we supply the facility with an economic input, we get as a result the best electricity price. Today, we have three global requests to install this facility.