Bulgaria joins FLNG project sited off Greece

Tuesday, 02 February 2021
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The natural gas transmission network of Bulgaria has completed its share participation transaction in the Alexandroupolis floating LNG import terminal proposed to supply the Balkans region with regasified volumes from offshore northeast Greece.

The deal with joint venture developer Gastrade of Greece gives the grid company, Bulgartransgaz, a 20 percent stake in the Greek company and its LNG project.

The participation of Bulgartransgaz in the project was applauded by Greek Prime Minister Kyriakos Mitsotakis and his Bulgarian counterpart Boyko Borisov during a ceremony held in Athens.

“The Alexandroupolis project is regarded as important for the region as 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,” said Gastrade.

The project is strategically located at the crossroads of the Southern and Vertical Gas Corridor and offers access for LNG to the markets of Greece, Bulgaria, Serbia, Romania, Northern Macedonia and nations further away like Moldova and Ukraine.

The FLNG terminal is expected to commence operations and deliver gas into the regional systems in 2023.

Gastrade explained that the terminal would be fully complementary to the Greece-Bulgaria interconnector (IGB) by supporting its viability while operating in harmony with existing and new strategic energy infrastructures in the region such as the Trans-Adriatic Pipeline.

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