Gastrade has started building the 5.5 bcm/year floating storage and regasification unit (FSRU) located southwest of the port of Alexandroupolis in Greece. The company took the final investment decision on the project in February 2022. It is expected to receive LNG from the United States and Qatar, and will supply gas to Greece and to the wider south-east Europe region, from Bulgaria, Romania, Serbia and North Macedonia to Hungary, Moldova and Ukraine. The project is included in the European Union list of Projects of Common Interest (PCI) and is expected to be commissioned in 2023.
Gastrade, a special purpose vehicle for the terminal, is owned by the Bulgarian gas transmission system operator Bulgartransgaz (20%), the Greek gas transmission system operator DESFA (20%), the Greek gas company DEPA (20%), the Greek infrastructure investor Copelouzos Group (20%) and the Cypriot owner of LNG carriers GasLog (20%).