Greek firm Gastrade signs LNG deal with state-owned DEPA
ATHENS (Reuters) — Greece’s state controlled natural gas firm DEPA signed a cooperation agreement on Thursday with natural gas company Gastrade to participate in the development of a LNG terminal in northern Greece, DEPA said.
Greece currently has one LNG terminal on an islet off Athens. Gastrade, part of Greek energy group Copelouzos, is planning a second LNG terminal near the northern city of Alexandroupolis.
The project has been described as a ‘project of common interest’ by the European Union.
Gastrade will hold at least 20% stake in the scheme, a source close to the matter said, with LNG carrier operator GasLog another 20%.
Bulgarian Energy Holding and Cheniere Energy, a US-based LNG exporter, have also expressed interest in the project.
The facility, with an estimated annual capacity of 6.1 Bcm, will seek to supply gas to southeastern Europe via another natural gas pipeline scheme that will cross through Greece, the Interconnector Greece-Bulgaria (IGB).
The IGB and the LNG terminal would fit with the Trans-Adriatic Pipeline (TAP) which has been under construction and will transport Caspian gas to European markets.
The Alexandroupolis terminal is expected to cost about $438.01 MM.
Reporting by Angeliki Koutantou. Editing by Jane Merriman
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At October’s HPI Forecast Breakfast for our sister publication, <i>Hydrocarbon Processing</i>, I shared <i>Gas Processing</i>’s forecast on change in the LNG industry.
In one of the toughest markets in the history of gas compression, we are challenged to deliver more with less.
The New LNG Imperative
The shale gas boom established the US as the world’s leading natural gas producer and is responsible for billions of dollars of investments in the US gas processing industry. Since 2012, the US has witnessed unprecedented growth in new gas processing capacity and infrastructure. This rise is due to greater production of domestic shale gas, which is providing cheap, available feedstock to fuel the domestic gas processing, LNG and petrochemical industries. New gas processing projects include the construction of billions of cubic feet per day of new cryogenic and gas processing capacity, NGL fractionators, multi-billion-dollar pipeline infrastructure projects, and the development of millions of tons per year of new LNG export terminal construction. Attend this webcast to hear from Lee Nichols, Editor/Associate Publisher, Hydrocarbon Processing, Scott Allgood, Director-Data Services, Energy Web Atlas and Peregrine Bush, Senior Cartographic Editor, Petroleum Economist as they discuss the future of LNG and the application of Energy Web Atlas, a web-based GIS platform which allows users to track real-time information for every LNG project.
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