Gastrade extends Alexandroupolis FSRU market test deadline

Gastrade, a Greek utility company developing the Alexandroupolis LNG terminal, has extended the deadline for participation in the binging phase of the market test to March 10. 

To remind, the company launched the second phase of the binding bidding phase for capacity reservations in the Alexandroupolis LNG project, inviting companies that have already expressed interest in the first phase of the market test to submit binding offers to Gastrade by February 24.

However,  in order to achieve the maximum possible participation in the market test for the reservation of capacity at the Alexandroupolis LNG project, Gastrade invited all interested parties, which have not participated in the first, non-binding, phase of the expression of interest of the process and have not been assigned the right to participate in the second, and binding, phase of the market test, to take part in this binding phase directly and submit their binding interest for capacity reservation at the project.

The project comprises an offshore floating, storage and regasification unit (FSRU) for the reception, storage and re-gasification of LNG, which will be stationed 17.6 km offshore the town of Alexandroupolis in Northeastern Greece, and a gas transmission pipeline, through which natural gas will be delivered to the NNGTS and onwards to the final consumers in Greece, Bulgaria, Serbia, North Macedonia, Romania, Turkey and further to Moldova, Ukraine and Hungary.

The FSRU will have a nominal regasification and send-out capacity of 5.5 bcm per year and a peak technical regasification and send-out capacity of 22.8 million cubic meters per day.

The tender process for the construction of the project is underway. The commercial operation date for the project is planned for the third quarter of 2022. The project is included in the European Union list of Projects of Common Interest and is fully licensed.

In December 2019, Greek gas company DEPA and Gastrade signed a final agreement for the acquisition of a 20 percent share in the company by DEPA.

On January 8, 2020, Bulgartransgaz, the Bulgarian gas transportation company, concluded terms of an agreement for a 20 percent participation in Gastrade.

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