United States Ambassador to Greece, Geoffrey Pyatt, welcomed on Friday Gastrade’s adoption of the Final Investment Decision (FID) for the construction of the Alexandroupolis Independent Natural Gas System (INGS).
“A big step forward for energy security and climate SE Europe. Congratulations all around,” the envoy said in a tweet.
The FID is the last and most important milestone, before entering the project’s construction phase. Gastrade announced the news on Friday, following shareholders’ approval that all requirements for the materialization of the project have been secured, and the project is on track in line with its schedule.
The construction and operation of the Alexandroupolis Liquefied Natural Gas (LNG) Terminal will contribute to the energy security, liquidity and diversification of the country and the entire Southeastern Europe region, strengthening the strategic role of Greece and offering alternative sources and routes for the supply of natural gas in the area.
The Floating Storage and Regasification Unit (FSRU), with a capacity of 153,500 sq.m. of LNG, will be connected to the National Natural Gas Transmission System of Greece with a 28km-long pipeline, through which the gasified LNG will be transmitted to the markets of Greece, Bulgaria and the wider region, from Romania, Serbia and North Macedonia, as all the way to Moldova and Ukraine.
The Terminal is expected to operate by the end of 2023, with the contracted regasification capacity already reaching up to 50% of it’s technical capacity of 5.5 billion sq.m. per year. Alexandroupolis INGS is included in and financed by the Operational Program of the NSRF “Competitiveness, Entrepreneurship and Innovation 2014-2020,” with an amount of public spending of 166.7 million euros.
Elpedison, a power firm owned by Greece’s Hellenic Petroleum and Italy’s Edison, is inviting companies willing to secure capacities at its planned Thessaloniki FSRU project to submit their bids. The firm announced on Monday it […]
Greek shipping companies are making a lot of money by moving large volumes of Russian oil that other tanker companies are unwilling to touch. Ukraine has added the tanker firms of several Greek tycoons to […]
Iran-allied Houthi militants on Wednesday (12 June) took responsibility for small watercraft and missile attacks that left a Greek-owned cargo ship taking on water and in need of rescue near Yemen’s Red Sea port […]
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.
