Bulgarian gas firm buys stake in Greek FSRU project

Bulgaria’s state gas firm Bulgartransgaz has purchased a 20 percent stake in Greece’s Gastrade, the developer of the planned Alexandroupolis LNG import facility.

The Bulgarian firm signed the deal in Athens on Monday with Gastrade and project partners GasLog and DEPA.

Gastrade’s LNG import project includes a FSRU to be located 17.6 kilometers offshore the town of Alexandroupolis in Northeastern Greece.

Furthermore, the 5.5 bcm per year vessel will supply the fuel to several markets in the region.

This includes Greece, Bulgaria and the wider region, from Romania, Serbia and North Macedonia to Hungary, Moldova and Ukraine.

Gas market players in Greece and southeast Europe have already reserved 2.6 bcm per year capacity at the facility.

Gastrade aims to launch the LNG terminal in Alexandroupolis in early 2023.

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