Tuesday, May 17, 2022

HomeLNGDESFA acquires share capital of Gastrade for the Alexandroupolis LNG terminal

DESFA acquires share capital of Gastrade for the Alexandroupolis LNG terminal

National Natural Gas System Operator (DESFA SA), the Greek natural gas transmission operator acquired a 20 per cent share of Gastrade – the utility company which is constructing the Floating Storage and Regasification Unit (FSRU) of liquefied natural gas (LNG) in Alexandroupolis, Greece.

The construction of the Terminal is expected to strengthen Greece’s strategic role in South-Eastern Europe, offering opportunities for new natural gas exports to the region. It is a European Project of Common Interest and a priority for the European Union, as the Terminal diversifies the sources and routes of energy supply.  

“With the signing of today’s agreement, DESFA becomes officially part of Gastrade and of a project that will contribute significantly to energy security and to the upgrading of Greece’s role in regional energy developments”, noted Maria Rita Galli, CEO of DESFA.

“[…] We continue to invest in new technologies, in new uses of natural gas, in domestic and international energy projects, always moving in the strategic direction of the energy transition”.

The developers of Alexandroupolis LNG Terminal expect that the project will also promote competition among gas suppliers and support the creation of a transaction hub in the region of Southeastern Europe. This should lower prices on the consumer end too.

“[…] We welcome DESFA to Gastrade, being convinced that with our full shareholder structure, the project of the Terminal in Alexandroupolis will play a leading role in the green transition of European networks, while strengthening the security of energy supply, for the benefit of both national economies, as well as the citizens”, highlighted Elmina Kopelouzou, the Founding Shareholder and Chairwoman of the Board of Directors of Gastrade.

The FSRU will be connected to the National Natural Gas Transmission System of Greece with a 28 km long pipeline, through which the LNG will be provided to the markets of Greece, Bulgaria, Romania, Serbia and Νorth Macedonia, Moldova and Ukraine. The terminal is expected to be operational by 2023.

Photos: Gastrade, DESFA

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