Greek infrastructure company Gastrade has extended the timeline for the completion of its proposed Alexandroupolis LNG floating storage and regasification unit (FSRU) in northern Greece by 6 months.
Alexandroupolis LNG is expected to have a nominal capacity of 5.5 bcm/year (peak regasification capacity of 6.1 bcm/year) and a storage capacity of up to 170 000 m3 of LNG. The tender process for the construction of the €370m project was launched in September 2018 and the construction of the FSRU is expected to start in the second quarter of 2019 with commercial operations due in the fourth quarter of 2020. The project is included in the European Union list of Projects of Common Interest (PCI) and is likely to be financed through Gastrade's own resources alongside co-financing from domestic public funds.
The LNG project will transmit gas to Bulgaria and neighbouring markets (Serbia, Macedonia, Turkey, Romania and potentially Ukraine and Hungary) through the Interconnector Greece-Bulgaria that is planned for commercial operation in 2020. There is also the potential for a future tie-in with the Trans Adriatic Pipeline (TAP) gas interconnection project.