Bulgaria to acquire 20% of Gastrade’s Alexandroupoli LNG project in Greece

Bulgaria to acquire 20% of Gastrade’s Alexandroupoli LNG project in Greece


The Council of Ministers of the Bulgarian Government has approved the participation of Bulgaria’s state gas transmission company, Bulgartransgaz, by a percentage of 20% in the share capital of Gastrade, which is developing the EU-backed LNG Terminal in Northern Greece off the shore of Alexandroupolis.

The terminal comprises a floating LNG storage and regasification unit (FSRU) and a 28km pipeline system. The LNG storage capacity of the FSRU will be up to 170,000 cubic metres and the maximum daily regasification capacity 22.7 million cbm. The FSRU will be moored 10km offshore the city of Alexandroupolis and will be connected to the National Natural Gas Transmission System via a 28 km pipeline (24 km subsea pipeline and 4km onshore pipeline).

This is a Project of European Common Interest (PCI – EU Regulation 347/2013), i.e. a priority project for the European Union. As such this project will enhance the security of supply, diversify the energy sources and routes and support the development of competition in Greece and the wider region of Southeast Europe as well as in the establishment of a Natural Gas Hub in the region.

This project supports and creates great synergies with the Interconnector Greece – Bulgaria (IGB), a project where Bulgarian Energy Holding and DEPA participate. DEPA has already signed its participation in the share capital of Gastrade with also 20 per cent.

The IGB is a pipeline that will transmit natural gas from Greece to Bulgaria and onwards to Serbia, North Macedonia, Romania, Hungary as well as Ukraine.

The decision of the Council of Ministers moves within the frame of the updated Energy Strategy of Bulgaria securing access to Liquified Natural Gas via the Alexandroupolis LNG terminal.

The Managing Director of Gastrade Konstantinos Spyropoulos stated: “We welcome Bulgartransgaz at the project and we are happy that we are going to collaborate for its development. The project will enrich the sources and routes of energy supply to Bulgaria reducing the energy cost for the Bulgarian consumers. The experience and the size of Bulgartransgaz will contribute to the successful operation of the project.”

The LNG Terminal in Northern Greece is expected to start operations in 2022.

For more information visit www.gastrade.gr

10th January 2020