Bulgaria takes 20% stake in Greek LNG terminal
Bulgaria's state gas company Bulgartransgaz has finalized a deal to take 20% of Greek company Gastrade, which is developing a floating LNG facility off the city of Alexandroupolis.
The Alexandroupolis LNG Terminal will have an estimated annual capacity of about 5.5 billion cubic meters and will aim to supply gas to southeastern Europe via the Interconnector Greece-Bulgaria (IGB) pipeline.
The deal is part of Bulgaria's strategy to diversify and to decrease its dependence on Russian gas. The deal has been approved by Bulgaria's competition regulator.
The FSRU will be moored in the offshore area 17.6 km southwest of the port of Alexandroupolis. The floating unit will be connected to the National Natural Gas Transmission System through a pipeline system of a total length of 28 km.
The project is expected to commence operations in 2023.
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