Gastrade announced that a final investment decision had been made on developing a Greek liquefied natural gas (LNG) terminal in
Alexandroupoli, the last step before the construction begins.
Gastrade is developing a floating LNG facility off the northern port city of Alexandroupoli, with an annual capacity of about 5 billion cubic meters of gas.
Gastrade, the part of Copelouzos group, GasLog Cyprus Investments, Greek gas utility DEPA Trade, Greek and Bulgarian natural gas transmission system operators DESFA and Bulgartransgaz all have stakes in the project, which is expected to start operating by the end of 2023.
Gastrade said in a statement that the shareholders have unanimously approved that all requirements for the project have been secured and it is on track.
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.
