Greece, DESFA has officially become a partner in the shareholding structure of Gastrade

, SEE Energy News

Greek natural gas transmission system operator DESFA has officially become a partner in the shareholding structure of Gastrade – the company developing the Alexandroupoli floating liquefied natural gas (LNG) terminal project, with the acquisition of 20 % of its share capital.

The signing of the agreement came after recent approval, by the European Commission, of the acquisition of joint control of Gastrade by DESFA, Greek gas company DEPA Trade, Cypriot GasLog and Bulgarian natural gas transmission system operator Bulgartransgaz.

The Alexandroupoli LNG project, for which Gastrade has obtained a license in 2011, envisages the construction of LNG storage facility with the capacity of 170,000 cubic meters, which could supply 17 million cubic meters of gas per day to Greek gas network. With the construction
of gas interconnection between Greece and Bulgaria, the investors are considering options to supply natural gas to the entire Balkan region.

The FSRU will be located 17.6 kilometers southwest of the port of Alexandroupoli and will have gas supply capacity that will exceed 5.5
billion cubic meters per year. The floating unit will be connected to Greek gas transmission system via 28 kilometers long pipeline, through which the regasified LNG will be transmitted to the markets of Greece, Bulgaria and the wider region, from Romania, Serbia and North Macedonia to Hungary, Moldova and Ukraine.

The project supports, complements and works in harmony with, the other existing or planned key gas infrastructure projects in the region such as the Greece-Bulgaria interconnector (IGB), TAP, the Bulgaria-Serbia interconnector, the Greece-North Macedonia interconnector, the Kavala underground gas storage and the Revythoussa LNG terminal.

The consortium for the construction of the terminal should comprise of Gastrade, controlled by Copelouzos Group, (20 %), Gaslog (20 %),
Greek Public Gas Corporation DEPA (20 %), now through DEPA Trade, Greek natural gas transmission system operator DESFA (20 %) and
Bulgarian Energy Holding BEH through Bulgartransgaz (20 %).