The gas transmission system operators (TSOs) of Greece (DESFA), Bulgaria (Bulgartransgaz), Romania, (SNTGN Transgaz) and Hungary (FGSZ) have agreed to upgrade their gas networks and interconnections, signing a Memorandum of Understanding (MoU) on the development of the "Vertical Gas Corridor" that would enable bidirectional gas flows from northern Europe to Greece through Hungary, Romania, Bulgaria and Greece. The project was initially launched in 2016 and would include the existing Interconnector Greece Bulgaria (IGB), whose capacity will be ramped up to 3 bcm/year and could be raised to 5 bcm/year. It would also include Gastrade's 5.5 bcm/year Alexandroupolis LNG terminal expected in 2024.
In Greece, DESFA estimates that it can nearly increase fourfold its gas export capacity in the coming years. A least two floating storage and regasification units (FSRUs) could be operational by 2024 (several are under development, on top of the Alexandroupolis LNG terminal).
Interested in LNG Databases?
World LNG Database offers a complete set of data on LNG markets. The service provides detailed information on existing and planned liquefaction and regasification plants. It also includes LNG shipping around the world, LNG contracts, time series on regasification and liquefaction capacities, LNG flows and LNG prices for all players in the market.