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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.

Navigator Consulting and NavInvest Greece provide due diligence, market analysis, business planning and valuation services in Greece and internationally. For support in investing in Greece, please contact us.

Photo (c) Kathimerini Greece

Sources:

Bulgartransgaz Bulgaria, 8 January 2020

Kathimerini Greece, 9 January 2020

New Europe, 9 January 2020

PortsEurope, 8 January 2020

EnergyPress Greece, 8 January 2020

Ekathimerini Greece, 8 January 2020


 
 
 

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