Monday, November 23, 2020
Home Oil & Gas DESFA becomes partner in the Alexandroupolis LNG terminal

DESFA becomes partner in the Alexandroupolis LNG terminal

Greece’s natural gas transmission system operator DESFA signed an agreement for the acquisition of a 20 per cent stake in Gastrade, the company that develops the project of the floating storage and regasification unit (FSRU) of liquefied natural gas (LNG) in Alexandroupolis.

This agreement, which is subject to the approval of the competent Greek and European authorities, is the result of a very thorough due diligence, on all financial, commercial, legal and regulatory aspects of the project. The construction of this facility will actively contribute to the security, liquidity and efficiency of Greece’s energy system and will strengthen the strategic role of the country in Southeastern Europe, offering opportunities for new gas exports to the region.

“We are proud that in this particular socio-economic situation, DESFA is present and invests in important projects for Greece and the region,” said the CEO of DESFA, Nicola Battilana. “The FSRU Alexandroupolis is another important vehicle on the road of the energy transition, of which DESFA is an enabler, while it will bring the country to the epicentre of energy developments. We are committed with our know-how to contribute to the successful operation of the project.”

The FSRU will be located 17.6 kilometres southwest of the port of Alexandroupolis and will have an LNG storage capacity of up to 170,000 cubic metres and a natural gas sent out capacity that will exceed 5.5 billion cubic metres per year. The floating unit will be connected to the National Natural Gas System of Greece via a 28 kilometres long pipeline, through which the regasified LNG will be transmitted to the markets of Greece, Bulgaria and the wider region, from Romania, Serbia and North Macedonia to Hungary, Moldova and Ukraine.

“The FSRU Alexandroupolis project strengthens Greece’s position as a natural gas transit hub for the entire Southeastern Europe,” highlighted the Minister of Energy and Environment, Kostis Hatzidakis. “The construction of this new terminal over the next years will constitute one of the most important success stories of our energy policy. At the same time, this development illustrates –despite the difficult times we are living in- the renewed trust of international investors in our country, given that the majority of DESFA’s shares belong to companies from Italy, Belgium and Spain.”

DESFA, having a long experience with the management of the LNG terminal in Revithoussa, through its contribution in this project, proves in practice its firm commitment and support in the development and new uses of natural gas, by continuous investments in new technologies, as well as in domestic and international energy projects.

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