Greece, Gastrade has decided to install additional floating storage and regasification unit (FSRU) at the terminal

, SEE Energy News

Gastrade, a company established by the Copelouzos Group for the construction of Alexandroupoli liquefied natural gas (LNG) terminal in Greece’s northeast, said that it has decided to install additional floating storage and regasification unit (FSRU) at the terminal, which should be completed by the end of 2025.

Gastrade’s decision for an additional FSRU in Alexandroupoli has been under consideration since last summer, when the energy crisis was at its early stages, but it was accelerated by the Russian invasion of Ukraine.

Russia’s invasion has further highlighted the need for Europe to reduce its dependence on Russian gas as soon as possible. Southeastern Europe’s gas needs to result from Europe’s reduced energy dependence on Russia, through strategic diversification, has increased the prospect of Greece’s northeast becoming an energy hub.

The consortium for the construction of the Alexandroupoli LNG terminal comprises 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 %).