Greece: Gastrade and DESFA signed agreement on LNG terminal’s 20% acquisition

, SEE Energy News

Natural gas transmission system operator DESFA signed an agreement on the acquisition of 20 % of future Alexandropoli LNG terminal projects with Greek company Gastrade.

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 Alexandroupolis 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. DESFA’s presence in the project will provide Gastrade with additional expertise in operating the new Terminal and will have a key role in the penetration of LNG in the region as well as the enhancement of energy liquidity and the optimization of gas supply in Greece and southeastern Europe region, offering to these markets increased energy diversification and flexibility. The consortium for the construction of the terminal comprises of Gastrade (40 %), Gaslog (20 %), Greek Public Gas Corporation DEPA (20%), now through DEPA Trade, and Bulgarian Energy Holding BEH (20 %). DESFA acquired half of Gastrade’s 40 % share in the project.