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First phase of market test for floating LNG terminal completed

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LNG Industry,

Gastrade has announced that the first phase of the market test for the reservation of regasification capacity at the floating LNG terminal in Alexandroupolis, Greece, has been successfully completed.

According to the statement, 20 companies have submitted relevant expressions of interest for a total of up to 12.2 billion m3/yr of regasification capacity reservation at the floating terminal and delivery to the Greek National Natural Gas Transmission System. Gastrade claims that these gas quantities will be directed towards the markets of the wider Southeastern European region. The expression of interest reportedly surpassed the technical capacity of the project, which is designed at 5.5 billion m3/yr.

In the statement, Gastrade claims that companies from across the globe have expressed interest in the market test – not just from Southeastern European nations.

Konstantinos Spyropoulos, Managing Director of GASTRADE, said: “The highly successful outcome of the first phase of the market test and the great interest expressed for the Alexandroupolis LNG project by many important regional and international gas players is an essential step for the implementation of the project and ultimately for the upgrade of the energy position and the energy supply diversification of Greece, Bulgaria and Southeastern Europe as a whole.”

According to the statement, the process of the first phase of the market test began on 30 October last year. It was reportedly carried out under the guidance and supervision of the Regulatory Authority for Energy of Greece (RAE) and in accordance with the Guidelines for Management and Allocation of Capacity approved by RAE in line with the provisions of paragraph 6 of Article 36 of the European Directive 2009/73/EC.

Gastrade claims that, once the relevant new guidelines and notice to the companies that will take part in this next phase are approved by RAE, the project will continue on to the next binding phase of the market test.

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LNG import news Offshore LNG news