Commission OKs grant for LNG terminal

Commission OKs grant for LNG terminal

The European Commission has approved the Greek support of 166.7 million euros for building a new liquefied gas terminal at Alexandroupoli, in northeastern Greece, based on the European Union regulations regarding state subsidies.

Brussels said the project is set to contribute toward the security and diversification of energy supply in Greece and generally in Southeastern Europe, without unduly distorting competition.

Executive Commission Vice President Margrethe Vestager, who is in charge of competition policy, said that the new terminal in Thrace “will contribute to the achievement of the EU’s goals in terms of security and diversification of energy supply. The Greek support measure limits the aid to what is necessary to make the project happen and sufficient safeguards will be in place to ensure that potential competition distortions are minimized.”

The project will be financed by the Greek state using European Structural and Investment Funds, notably funds directly controlled and managed by Greece under the 2014-20 Partnership Agreement for the Development Framework (ESPA). The support will take the form of a direct grant to Gastrade SA.

Previous Next
Close
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using


These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.


These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.


These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.