Gastrade begins commercial operations of Alexandroupolis LNG Terminal
The transformation of Alexandroupolis into a new energy gateway for the entire Central and Southeast Europe begins today with the start of Commercial Operations of the Alexandroupolis LNG Terminal, according to Gastrade's release.
Gastrade announces today, October 1st, 2024, that the Alexandroupolis LNG Terminal has entered commercial operations. It is one of the most important energy projects at the European, Regional, National and local level, designed, built, owned and operated by Gastrade. A landmark project envisioned 15 years ago by Dimitris Copelouzos.
The implementation of the Project began to materialise when the Final Investment Decision (FID) was taken on January 27, 2022, by Gastrade. Subsequently, onshore and offshore construction work in Alexandroupolis progressed rapidly, while in February 2023 construction of the LNG floating storage and regasification unit (FSRU) began in Singapore. The FSRU sailed from the Seatrium shipyard on November 26, 2023, arriving in the waters of the Thracian Sea on December 17, 2023, where it moored in its permanent position. With the successful completion of all commissioning tests and the issuance by the Ministry of Energy and Environment of the Operating Permit this past summer, the Project was brought into operational readiness, officially allowing the commencement of its commercial operations.
The Alexandroupolis LNG Terminal consists, apart from the FSRU, of a subsea and onshore natural gas pipeline which connects the FSRU to the National Natural Gas Transmission System (“NNGTS”) through which it will deliver natural gas to Greece, Bulgaria, Romania, North Macedonia, Serbia, Moldova and Ukraine in the east, as well as Hungary and Slovakia in the west. The FSRU, named “ALEXANDROUPOLIS” to honour the city and its inhabitants, who embraced this ambitious project from the beginning, has a state-of-the-art technology, with a maximum regasification capacity of 5.5 billion cubic meters per year.
Already 14 Greek and international companies are participating commercially in the Project, committing almost all of the Terminal’s capacity until at least 2030. At the same time, the start of commercial operations of the Project marks the enhancement of the Vertical Corridor initiative, significantly strengthening its dynamics, aiming to create a natural gas trading hub in Southeast and Central Europe.
The Gastrade team, together with its strategic partners and shareholders, Elmina Copelouzou, Gaslog, DEPA Commercial, Bulgartransgaz, and DESFA, would like to express its appreciation to all those who contributed to the successful completion of this project of National importance and remains committed to ensuring a more sustainable and secure energy future for Greece and Europe.
Gastrade is the first company in Greece to be granted an Independent Natural Gas System License. Gastrade studies, designs, constructs, operates and exploits the necessary infrastructure for receiving, storing, transporting, and distributing natural gas in a safe, adequate, reliable and cost-effective manner. Gastrade developed and will operate the Alexandroupolis Independent Natural Gas System.
The Project has been co-financed by the European Regional Development Fund of the European Union through the Operational Programmes “Competitiveness, Entrepreneurship, and Innovation (EPAnEK)” and “Environment and Climate Change (PEKA)” within the NSRF of 2014-2020 and 2021-2027 respectively.
