The Bulgarian Government will invest in the Alexandroupolis FSRU terminal in Greece aiming on a wider diversity of its sources of supply, while the project is set to begin operations in September 2022, as Reuters informed.
Specifically, the country’s prime minister Boyko Borissov during a US-Bulgaria strategic dialogue, confirmed that the country looks for more sources of supply.
The Prime Minister stated that Bulgaria’s state-run Bulgartransgaz is expected to acquire a 20% stake in Gastrade, with the latter developing the Northern Greece FSRU project off the coast of Alexandroupolis.
The Bulgartransgaz is interested in booking anywhere between 300 and 500 million cubic metres of gas yearly for more than five years in a binding market test. Based on the project’s timeframe, the final investment decision will be finalised in the third quarter of 2020, with the project beginning operations in September 2022.
Overall, the Greek public gas corporation “DEPA” has approved the acquisition of a 20% stake in Gastrade at the end of December 2019.
The terminal includes an FSRU with a storage capacity of up to 170,000 cubic meters of LNG and daily regasification capacity of 22.7 million bcm (8.3 billion bcm annually), that will be anchored at a distance of 10 km offshore Alexandroupolis and a 28km long pipeline system.