Bulgartransgaz shareholding in the liquefied gas terminal in Alexandroupolis finalized

The deal for participation of the Bulgarian gas transmission operator Bulgartransgaz EAD in the project for construction of a liquefied gas terminal in Alexandroupolis is being finalized. The company has entered in the shareholders’ book of Gastrade S.A. as a full shareholder with all arising rights and obligations under the signed Agreement between shareholders. 

The Alexandroupolis Independent Natural Gas System (INGS) is a modern, cutting edge technology project for an offshore floating unit for reception, storage and re-gasification of LNG. The planned capacity of the terminal for re-gasification and supply to the Greek gas transmission system amounts to 6.1 bcm/y. The storage capacity is 170 thousand m³.

The project contributes to implementing the overall Balkan Gas Hub concept, which envisages to connect the natural gas markets of the countries in Central and East Europe by construction and development of the necessary gas transmission infrastructure. It is being fully implemented in pursuit of the policy and priorities for establishing a single interconnected pan-European energy market.

The liquefied natural gas terminal is being developed by Gastrade S.A. The project company has successfully completed the binding phase of the market test for booking of capacity and services in the floating terminal. Considering the total binding commitments of up to 15 years, reaching 2.6 bcm/year, the test results are higher than those for other similar facilities in recent times. The commercial operation of the facility is planned to commence by the end of 2022.