Bulgartransgaz to acquire 20% of Greece’s Gastrade

Bulgartransgaz has announced the purchase a 20% share in Greece’s Gastrade S.A. Gastrade is a project company owned by Copelouzos Group and the Natural Gas Company of Greece (DEPA). This investment confirms Greece’s attempt to transform itself into an energy transport hub and provides for important future revenue streams. Gastrade is building a liquified natural gas (LNG) import terminal near Alexandroupolis in northern Greece. The terminal will have an estimated annual capacity of 6.1 billion cubic metres (bcm), which will be supplied to Bulgaria and other Balkan countries through the Interconnector Greece-Bulgaria (IGB) natural gas pipeline. The LNG will be supplied by supplies from the United States, Qatar and other sources. This provides an important diversification for Bulgaria, which currently depends on Russia for all of its 3 bcm natural requirements. In 2019, Greece supplied 0.4 bcm of natural gas to Bulgaria on a trial basis. The Interconnector Greece-Bulgaria (IGB) natural gas pipeline has been designated as a Project of European Common Interest, indicating the strategic nature of this project in diversifying energy supply and increasing competition in the sector.
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Photo (c) Kathimerini Greece
Sources:
BULGARTRANSGAZ EAD WILL ACQUIRE 20% OF GASTRADE S.A. CAPITAL
Bulgartransgaz Bulgaria, 8 January 2020
Συμφωνία Gastrade με την Bulgartransgaz
Kathimerini Greece, 9 January 2020
Bulgaria to acquire 20% of Alexandroupolis LNG project in Greece
New Europe, 9 January 2020
Bulgaria takes 20% stake in Gastrade, including the Alexandroupolis LNG facility
PortsEurope, 8 January 2020
Ανακοίνωση της Gastrade: Συμμετοχή της BULGARTRANSGAZ στο έργο του LNG της Αλεξανδρούπολης
EnergyPress Greece, 8 January 2020
Bulgaria to buy 20 pct stake in Greek LNG terminal
Ekathimerini Greece, 8 January 2020