The future of the planned Thrace floating LNG terminal will largely hinge on whether Gastrade can secure long-term supply commitments from buyers across Central and Eastern Europe. The 650-million-euro project, promoted by a consortium led by Copelouzos Group, is moving forward alongside efforts to finalize 15-year contracts that would support a final investment decision. Executives say a green light could arrive in early 2027 if binding deals are signed on schedule, allowing the new FSRU off northern Greece to start operating in 2028 and reinforce Greece as a regional gas hub.
Parallel to commercial talks, financing discussions have intensified with US Development Finance Corporation and Export-Import Bank of the United States regarding possible participation. This fits into broader US support for the Greece-Ukraine Vertical Gas Corridor and the European Union push to strengthen strategic energy infrastructure after the drop in Russian gas deliveries.
Market outlooks highlight the need for new LNG capacity. Projections by ENTSOG indicate that Southeastern Europe could face a supply gap of roughly 35 bcm in the coming years. While Romania’s Neptun Deep may deliver 7–8 bcm per year, a sizeable deficit would remain and would likely be covered mainly by LNG imports.
A second floating terminal near Alexandroupol could enable Greece to route an extra 5–6 bcm annually to neighboring markets. Without expansion beyond the existing Revythoussa LNG Terminal and Alexandroupoli LNG Terminal, export ambitions could stay limited. Operating two FSRUs in the same area may also bring commercial synergies, allowing up to 50–60 LNG cargoes per year, generating billions in trade flows and strengthening the project’s long-term economic case.
