EC approves Bulgartransgaz' participation in Greek LNG terminal project

EC approves Bulgartransgaz' participation in Greek LNG terminal project

The European Commission (EC) said on Monday that it has approved the acquisition of joint control of Gastrade, the Greek company developing the floating liquefied natural gas (LNG) terminal off the city of Alexandroupolis, by Greek-based companies Hellenic Gas Transmission System Operator (DESFA) and DEPA Commercial, private individual Asimina‐Eleni Copelouzou, Cyprus' GasLog, and Bulgarian gas transmission system operator Bulgartransgaz.

The proposed acquisition would raise no competition concerns, given the presence of competing gas import infrastructures and the Greek regulations in place, including those concerning the tariffs to be charged by LNG terminals and those laying down access obligations to LNG terminals and to DESFA's transmission system, the Commission said in a statement.

Earlier this year, Gastrade said that the deal for the participation of Bulgartransgaz with 20% in its share capital was completed, following the approval by the Bulgarian competition authority. The participation of state-owned Bulgartransgaz in Gastrade is a solid proof of the regional profile of the project and it constitutes a catalyst for the integration of Southeast European gas markets, securing energy liquidity and pluralism throughout the region, Gastrade said at the time.

The LNG terminal in Alexandroupolis is planned to comprise an LNG floating storage and regasification unit 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. The floating unit will be connected to Greece's national natural gas system via a 28 km long pipeline, through which the regasified LNG will be transmitted to the markets of Greece, Bulgaria and the wider region, from Romania, Serbia and North Macedonia to Hungary, Moldova and Ukraine.

The LNG terminal project is expected to commence operations in 2023.

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.