Gastrade and DEPA sign deal to work on LNG terminal

DEPA, Greece’s state controlled natural gas firm, is set to work with Gastrade to develop an LNG terminal near the Northern Greek city of Alexandroupolis.

Gastrade will hold an estimated 20% stake in the project with LNG carrier operator GasLog holding another 20% of the terminal which is expected to cost €370m to develop.

The facility will have a capacity of 6.1 billion cubic metres (bcm) and will supply gas to Southeastern Europe via a natural gas pipeline.

The Front End Engineering Design (FEED) for the terminal has been completed with the work being undertaken by Wood Group Kenny Ireland LTD. The FEED phase of the project was 50% financed by the European Union.

A number of other energy giants have expressed an interest in the project including Bulgarian Energy Holding and Cheniere Energy.

For more information visit www.gastrade.gr/en

16th Oct 2017