Gastrade begins work on Alexandroupolis LNG terminal, applies for second

Gastrade SA has begun construction of its 5.5-billion cu m/year LNG terminal offshore Alexandroupolis, Greece, targeting an end-2023 in-service date. The terminal will use a 153,500-cu m floating storage and regasification unit (FSRU), connected to Greece’s National Natural Gas Transmission System by a 28-km, 30-in. OD pipeline.

Regasified LNG will be transmitted to markets in Greece, Bulgaria, and the wider region of southeastern Europe, with the prospect of supplying Ukraine as well, according to Gastrade. The Alexandroupolis FSRU has contracted 60% of its capacity.

The company also submitted an application to Greece’s Regulatory Authority for Energy for a new independent natural gas system (INGS) license to develop a second FSRU-based LNG terminal, Thrace INGS, to be developed near the first FSRU in the Sea of Thrace, offshore Alexandroupolis.

“Alexandroupolis is the gateway and Bulgaria is the connecting link of the supply chain that this project comes to supply, on the way to Serbia and Romania. The second FSRU…allows for the further extension of this chain to Moldova and Ukraine. With these two projects, we are contributing to the creation of a real regional energy hub in the region that will strengthen the economy, security, and cooperation," Gastrade vice-president and chief executive officer Konstantinos Sifnaios said.

Gastrade took final investment decision on the Alexandroupolis FSRU earlier this year (OGJ Online, Jan. 31, 2022).

Bulgarian-state Bulgartransgaz EAD owns 20% of Gastrade. Greek companies Hellenic Gas Transmission System Operator (DESFA) and DEPA Commercia, Cyprus' GasLog Ltd., and private individual Asimina‐Eleni Copelouzou also each own 20%.