Bulgaria buys a 20% stake in the Alexandroupolis LNG terminal project (Greece)

25 Aug 2020

Bulgarian state-owned gas transmission system operator Bulgartransgaz has signed an agreement with Gastrade, a subsidiary of the Greek energy company Copelouzos, to acquire a 20% stake in the Alexandroupolis LNG import terminal project in northern Greece. The transaction is subject to regulatory approvals. Bulgaria seeks to diversify its gas supply, as the country currently imports nearly all its gas consumption from Russia.

The 6.1 bcm/year floating storage and regasification unit (FSRU) is expected to receive LNG from the United States and Qatar. Bulgaria would import regasified gas through the 3 bcm/year Interconnector Greece-Bulgaria (IGB) gas pipeline, that is currently under construction between Stara Zagora (Bulgaria) and Komotini (Greece). The 182 km-long gas pipeline is expected to be completed by the end of 2020. It will connect to the Trans Adriatic Pipeline (TAP) project (Azeri gas supply) through the Turkey-Greece-Italy pipeline (ITGI), to the Trans Adriatic Pipeline (TAP) project and to the Revythoussa LNG terminal in Greece. Its capacity could later be raised to 5 bcm/year with reverse flow capacity (2025).

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