Bulgarian national gas company Bulgartransgaz EAD (BTG) has bought 20% of the share capital of Greek firm Gastrade, which is developing the Alexandropoulis LNG terminal.
Once documentation is finalised and agreed, BTG will become an equal shareholder in the LNG terminal, which will be the second LNG facility in the region to which Bulgaria has access. The company says that participating in the development of the Alexandropoulis LNG terminal is of strategic importance for the security of Bulgarian energy supplies.
‘This will guarantee liquidity of the gas market and competitive prices for the customers. The LNG terminal in Alexandropoulis complements the realisation of the concept of the Bulgarian government – Balkan Gas Hub,’ says Bulgartransgaz CEO Vladimir Malinov.
Gastrade’s Alexandropoulis LNG terminal will be a floating storage and regasification unit (FSRU) located 17.6 km southwest of the port of Alexandropoulis in northeast Greece. It will have an LNG storage capacity of 170,000 m3 and a natural gas supply capacity in excess of 5.5 billion m3 annually. It will be connected to Greece’s gas network via a 28 km pipeline, and from there Gastrade plans to supply the Greece, Bulgaria and the wider area, including Romania, Serbia, North Macedonia, Hungary, Moldova and Ukraine, creating a new, independent energy gateway for Southeastern and Central Europe. The terminal is slated to start up in early 2023.
‘We welcome Bulgartransgaz to the project. Today’s signing of the agreement is the conclusion of our long-standing discussions at all levels of the Bulgarian energy administration. The participation of Bulgartransgaz in the project is of particular importance as it demonstrates the regional profile of the project and its importance for the markets of Southeast Europe. It is also a significant international investment in our country and we are proud to be part to it,’ says Gastrade CEO Konstantinos Spyropoulos.