Gastrade announces completion of Bulgartransgaz participation in Greek LNG terminal development
Published by Pippa Luck,
Bulgartransgaz, the operator of the national natural gas transmission network of Bulgaria, has completed its participation in the development of the liquefied natural gas (LNG) terminal in Alexandroupolis, Greece, following the approval granted by the Bulgarian Commission for Protection of Competition.
The participation of Bulgartransgaz in the project was applauded by the Prime Ministers of Greece, Mr Kyriakos Mitsotakis, and of Bulgaria, Mr Boyko Borisov, during the ceremony of the signing of the relevant agreements in Athens August 2020.
The Alexandroupolis LNG terminal is an energy project with high importance for Greece, Bulgaria and the wider region, since it materially contributes to the diversification of energy sources and routes for the entire Southeast Europe, enhances energy security and competition in the region, and supports the creation of a regional natural gas hub.
The project is strategically located at the crossroads of the Southern and Vertical Gas Corridor and offers access to LNG to the markets of Greece, Bulgaria, Serbia, Romania, Northern Macedonia and further to Moldova and Ukraine.
Furthermore, the terminal is fully complementary to the Greece-Bulgaria interconnector (IGB), supporting its viability whilst, at the same time, operating in harmony with the already existing and new strategic energy infrastructures in the region, such as the Bulgaria-Serbia interconnector (TAP) and the projects for the expansion of underground storage capacity in South East Europe.
The project enjoys the long-term support of the Governments of Greece and Bulgaria, as well as of the European Union since it has been included in the European projects of common interest (PCI) since 2013.
The participation of Bulgartransgaz and the Bulgarian State in Gastrade demonstrates 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.
The terminal consists of the LNG floating storage and regeneration unit (FSRU) with a storage capacity of 170 000 m3 of LNG and a regasification capacity of at least 5.5 billion m3/y of natural gas. The FSRU will be moored in the offshore area 17.6 km southwest of the port of Alexandroupolis. The floating unit will be connected to the national natural gas transmission system through a pipeline system of a total length of 28 km. The project is expected to commence operations in 2023.
Read the article online at: https://www.hydrocarbonengineering.com/tanks-terminals/28012021/gastrade-announces-completion-of-bulgartransgaz-participation-in-greek-lng-terminal-development/
You might also like
Increasing trade of biofuel feedstock heightens supply constraints
According to new analysis by S&P Global Commodity Insights Agribusiness Consulting group, supply constraints of animal fats and used cooking oil for the production of biofuel are a growing concern.