Gastrade received the Final Investment Decision (FID) for ASFA Alexandroupolis

The Final Investment Decision (FID) for the construction of the floating Liquefied Natural Gas (LNG) Terminal of Alexandroupolis was taken today, announced the company Gastrade that develops the project. Obtaining the FID is the last but most important step in starting construction work.

As unanimously approved by the General Meeting of Shareholders of the company, all the necessary conditions for the implementation of the project have been secured and the project is proceeding according to schedule.

The construction and operation of the Alexandroupolis LNG Terminal will contribute to energy security, liquidity and energy pluralism of the country and the whole of SE Europe, strengthening the strategic role of Greece and offering alternative sources and routes of gas supply in the region, says the Gastrade.

The Floating Storage and Gasification Unit (FSRU), with a capacity of 153,500 sq.m. LNG, will be connected to the National Natural Gas Transmission System of Greece with a 28 km long pipeline, through which the gasified LNG will be promoted to the markets of Greece, Bulgaria and the wider region, from Romania, Serbia and B Macedonia, as far as Moldova and Ukraine.

The terminal is expected to be operational by the end of 2023, with the contracted gasification capacity already reaching up to 50% of the technical capacity of 5.5 billion sq.m. per year. Staum; ow has been included and financed by the NSRF Operational Program “Competitiveness, Entrepreneurship and Innovation 2014-2020” (EPANEK) with the amount of public expenditure amounting to 166.7 million euros.

The following are statements from the company’s shareholders:

Elmina Kopelouzou, Founder Shareholder and Chairman of the Board of Gastrade: “The Final Investment Decision opens a new, important chapter in the energy security of the country and Southeastern Europe. We are very pleased that Gastrade has undertaken a critical project that is a priority for “The ASFA Alexandroupolis is coming to strengthen the security of energy supply, by diversifying energy routes and contributing to the development of competition for the benefit of final consumers”.

Konstantinos Sifnaios, Vice President and CEO of Gastrade, stressed: “A strategic project for the region is now being implemented. We are really proud of this achievement and confident that Gastrade’s human resources with their know-how and support shareholders, will make the vision of a new, innovative energy portal in our country a reality “.

Paolo Enoizi, spokesman for Gaslog Cyprus Investments Ltd: “GasLog has invested and stood by the project since its inception and we are very pleased to have reached this day. This project is of particular importance to us as GasLog not only participates in Gastrade shareholder but also, after the successful completion of the relevant tender process, GasLog will undertake the conversion of one of the ships of our fleet to FSRU which will then be transferred to Gastrade at the end of 2023. In addition, GasLog will undertakes the operation and maintenance of FSRU, ensuring through its know-how the provision of a high level of services to the users of the Station.This diverse role of our company in this project, gives us special motivation for its success and we look forward to securing a new one, modern and well-functioning LNG gateway for Greece and SE Europe “.

The President of DEPA Commerce, Mr. Ioannis Papadopoulos, and the CEO, Mr. Konstantinos Xifaras, jointly stated: “The current energy crisis highlights the strategic importance of the investment for the implementation of ASFA Alexandroupolis, not only for Greece, but not only “A new energy supply portal is being created, which will significantly upgrade our country’s position on the energy map of SE Europe.”

Vladimir Malinov, Executive Director of Bulgartransgaz EAD: “The unanimous final Investment Decision by all shareholders is a key moment for the implementation of the actual construction of the Liquefied Natural Gas Terminal in Alexandroupolis, Greece. , as a shareholder in the project, will help strengthen the gas market in the region of South East Europe.Access to alternative gas supplies, also from the United States, Egypt, Qatar and other sources, to Bulgaria and neighboring countries, “Increasing liquidity in the gas market. Increasing liquidity through access to liquefied natural gas will accelerate the coal mining process in Bulgaria,” he added.

Maria Rita Galli, CEO of DESFA: “Today’s Final Investment Decision for the FSRU of Alexandroupolis marks the beginning of an emblematic project that will play a key role in strengthening Greece’s energy security and will further establish the country’s competitive position. With the implementation of this strategically important project and its interconnection through the ESMFA, managed by DESFA, with the existing and new export routes to Bulgaria and Northern Macedonia, Greece will further emerge as an energy hub for the region, boosting natural gas exports to the markets of Southeastern and Central Europe, increasing the diversification of sources of supply and, contributing substantially to the energy transition of Greece and the wider region. expertise and the long experience he has gained from the operation of the LNG terminal of Revythousa in the optimal design and the excellent implementation of the FSRU Alexandroupolis “.