Tuesday, July 23, 2024
HomeLNGBulgartransgaz considers investing in a second LNG terminal in Greece

Bulgartransgaz considers investing in a second LNG terminal in Greece

The Bulgarian gas transmission operator Bulgartransgaz will analyse all opportunities to invest in a second LNG terminal in Greece, Vladimir Malinov, Executive Director of Bulgartransgaz announced during his participation in the 23rd World LNG Summit & Awards held in Athens.

Bulgartransgaz is already a 20 per cent shareholder in the LNG terminal under construction in Alexandroupolis. The key infrastructure is expected to be commissioned at the beginning of 2024.

“Connecting the gas transmission networks of Greece, Bulgaria, Romania and Hungary and providing a technical capability for bi-directional natural gas transmission will enable the transport of additional LNG quantities to be increased in the most efficient way,” Mr Malinov said, highlighting the crucial role of LNG in the energy mix which is ​​expected to continue to grow. In this regard, he mentioned the work done by the gas transmission operators along the Vertical Gas Corridor to develop incremental capacity projects to meet the increased interest in transporting natural gas from south to north.

“In order to fully meet the needs of the market, we expect to complete the expansion of the underground gas storage facility in Chiren by the end of 2024,” he continued. “The synergy of the Vertical Gas Corridor projects, the Alexandroupolis terminal and the Chiren UGS expansion will provide the necessary conditions for supplying larger volumes of LNG not only to the Greek and Bulgarian markets but also to the entire region, including Serbia, North Macedonia, Ukraine and Moldova.”

Sign up for our newsletters

    Monthly newsletter – Delivering the most important energy stories of the month selected by our Editor-in-chief
    Weekly Oil&Gas roundup - All major news about the oil and gas industry, LNG developments, the upscaling of new gases and related EU regulations arriving in your mailbox every Monday.
    Weekly Renewables&Climate roundup - All major news about investments in renewable energy sources, environment protection, green hydrogen and new innovative ways to tackle the climate crisis arriving in your mailbox every Tuesday.

    Most Popular