Bulgartransgaz seeks antitrust nod to acquire stake in Greek LNG terminal project

Bulgartransgaz seeks antitrust nod to acquire stake in Greek LNG terminal project

Bulgaria's competition regulator said that state-owned gas transmission system operator Bulgartransgaz is seeking its approval to acquire a stake in Gastrade - the company developing a floating liquefied natural gas (LNG) terminal off Greece's northern coastal city of Alexandroupolis.Interested parties have until December 23 to submit their statements regarding the transaction to the regulator, a notice published on the Commission for Protection of Competition's website on Wednesday reads. On August 24, Bulgartransgaz signed an agreement to acquire 20% interest in Gastrade."The investment that Bulgartransgaz made today in the LNG project is of strategic importance for the development of the natural gas market in Bulgaria and the region. This will guarantee liquidity of the gas market and competitive prices for the customers. The LNG terminal in Alexandroupolis complements the realisation of the concept of the Bulgarian government - Balkan Gas Hub," Vladimir Malinov, CEO of Bulgartransgaz, said at the time.The LNG terminal in Alexandroupolis, which is expected to become operational in early 2023, is planned to comprise an LNG floating storage and regasification unit (FSRU), which will be a new, independent energy gateway for the markets of Southeastern and Central Europe. The station will have an LNG storage capacity of 170,000 cubic meters and a natural gas supply capacity that will exceed 5.5 billion cubic meters per year.

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