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Cheniere interested in stake in Greek LNG project

LNG Industry,

According to Reuters, Cheniere Energy is interested in a minority stake in a new Greek LNG project, which will supply gas to south eastern Europe through the Interconnector Greece-Bulgaria pipeline (IGB). The offshore terminal will be based near Alexandroupolis, and is being planned by the Greek energy company, Copelouzos.

The EU-funded 350 – €380 million facility will have an estimated capacity of 6.1 billion m3 and, according to a senior official at Copelouzos’ Gastrade unit, could begin operations in early 2018 if the Final Investment Decision (FID) is taken in 2016.

Reuters also reports that Jean Abiteboul, the head of marketing at Cheniere, said: “Not only your country but the region is highly dependent on one supplier, which is a Russian supplier, Gazprom.

“We believe that bringing American gas in your country will help to diversify the gas supply and, eventually, which is the most important, to reduce the cost of energy for the region.

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