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Gastrade signs LNG deal

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LNG Industry,

According to Reuters, Greece’s state controlled natural gas firm DEPA signed a cooperation agreement on Thursday with natural gas company Gastrade to participate in the development of a LNG terminal in northern Greece.

Greece currently has one LNG terminal on an islet off Athens. Gastrade, part of Greek energy group Copelouzos, is planning a second LNG terminal near the northern city of Alexandroupolis.

Gastrade will hold at least a 20% stake in the scheme and LNG carrier operator GasLog another 20%.

Bulgarian Energy Holding and Cheniere Energy have also expressed interest in the project.

The facility, with an estimated annual capacity of 6.1 billion m3, will seek to supply gas to southeastern Europe via another natural gas pipeline scheme that will cross through Greece, the Interconnector Greece-Bulgaria (IGB).

The Alexandroupolis terminal is expected to cost about €370 million (US$438.01 million).

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