Greece’s Gastrade working on second FSRU project

Greek LNG import terminal developer Gastrade is planning to install a second floating storage and regasification unit (FSRU) offshore Alexandroupolis.

Gastrade’s shareholders Copelouzou, DESFA, DEPA, GasLog, and Bulgartransgaz recently took a final divestment decision on the first FSRU-based import project in Greece, but it seems that the JV has bigger ambitions than just one development.

The firm said in a statement on Tuesday it has submitted to the Regulatory Authority for Energy of Greece (RAE) an application for a new independent natural gas system (INGS) license.

According to the statement, the new project named “Thrace INGS” would consist of a 170,000-cbm FSRU located in the Thracian Sea, offshore Alexandroupolis.

Furthermore, the FSRU would be able to deliver up to a maximum of 22.7 million cubic meters per day or 5.5 bcm of natural gas per year, Gastrade said.

Besides the unit, the project would also include an offshore and onshore pipeline system that would connect the FSRU to the existing onshore gas transmission pipelines in the area.

“The project will enhance energy security and diversification of gas supply sources and routes in Greece and the entire region of Southeastern Europe and will materially reduce any risk for supply interruption,” Gastrade said.

The company did not provide any additional information.

First project to start in 2023

Gastrade is the first company in Greece that obtained an INGS license for the first FSRU-based Alexandroupolis import terminal.

This second project is similar to the first development.

Gastrade expects to launch the first terminal by the end of 2023, with the contracted regasification capacity already reaching up to 50 percent of its 5.5 bcm capacity.

Also, shareholder and LNG shipping firm GasLog recently told Singapore’s Keppel Offshore & Marine to proceed with the conversion of the 153,600-cbm LNG carrier GasLog Chelsea to an FSRU.

This vessel will serve the Alexandroupolis project.

Following completion of the conversion works, the FSRU will eventually be transferred to Gastrade while GasLog will operate and maintain the unit.

With this project, Greece will get its first FSRU and the second LNG import facility, adding to DESFA’s import terminal located on the island of Revithoussa.

In addition, Dioriga Gas, a unit of Motor Oil, is planning another FSRU-based import project in Greece’s Gulf of Corinth.

Most Popular

QatarEnergy eyes major LNG trading expansion

State-owned LNG giant QatarEnergy aims to increase trading of non-Qatari physical LNG volumes to 30 to 40 million tons by 2030, according to Qatar’s energy minister and chief executive of QatarEneergy, Saad Sherida Al-Kaabi.

BP ships second Tortue LNG cargo

UK-based energy giant BP and its partners have sent the second LNG cargo produced at the Greater Tortue Ahmeyim FLNG project, located offshore Mauritania and Senegal, according to shipping data.

TotalEnergies seals Ksi Lisims LNG deal

French energy giant TotalEnergies has signed a 20-year deal with Ksi Lisims LNG to buy LNG from the latter's planned export project in Canada. In addition, TotalEnergies will acquire a 5 percent stake in Houston-based Western LNG, the developer, shareholder, and future operator of the Ksi Lisims LNG project.

More News Like This

Gastrade to restart Alexandroupolis FSRU ops in August

Greece's Gastrade plans to resume Alexandroupolis FSRU operations on August 15 following a technical issue in January this year.

Gastrade to begin gradual restart of Alexandroupolis FSRU in May

Greece's Gastrade plans to begin a gradual restart of Alexandroupolis FSRU operations next month, a Gastrade spokeswoman told LNG Prime.

Greek LNG imports jump in Q1

LNG deliveries to DESFA's Revithoussa LNG terminal in Greece jumped in the first quarter of this year, with the US supplying most of the volumes.

GasLog Partners reports lower profit in Q4

GasLog Partners, part of Greek LNG carrier owner GasLog, reported lower profit and revenues in the fourth quarter of the last year due to a weak market and a non-cash impairment loss.