Commercial Operation of the LNG Terminal Begins Alexandrópoliswith the aim of making the city a new energy gateway for all of Central and Southeast Europe.
Gastrade announces that it is bringing the Alexandroupolis LNG Terminal into commercial operation. It is one of the most important energy projects at European, regional, national and local level, which was designed, built, owned and will be operated by Gastrade. A remarkable project designed 15 years ago by Dimitris Kopelouzos.
The result of major collaborations, with an innovative concept, the project contributes to energy security and the diversification of energy sources and supply routes in Southeast and Central Europe, decisively enhancing the role and importance of Greece in the modern energy map of Europe , becoming the energy gateway for more than nine countries.
From Final Investment Decision to Start of Commercial Operation
The implementation of the project began to take shape with the receipt of the Final Investment Decision (FID) on January 27, 2022 by Gastrade. Subsequently, onshore and offshore construction work at Alexandroupolis has progressed rapidly, with construction commencing in February 2023 of the floating LNG storage and regasification unit (FSRU) in Singapore. The FSRU departed the Seatrium shipyard on 26 November 2023, arriving in the waters of the Thracian Sea on 17 December 2023, where it docked in a permanent position.
With the successful completion of all operational tests and the issuance by the Ministry of Energy and Environment of its Operating License last summer, the project was placed into operational readiness officially allowing the start of commercial operation of the Project.
The Alexandroupoli LNG Terminal consists, in addition to the FSRU, of a subsea and onshore natural gas pipeline, which connects the FSRU to the Hellenic Transmission System (“ESMFA”) and through it will deliver natural gas out of Greece and to Bulgaria, Romania , North Macedonia, Serbia, Moldova and Ukraine to the east, as well as Hungary and Slovakia to the west. The Floating Unit, named “ALEXANDROUPOLIS” in honor of the city and its residents, who embraced this ambitious project from the beginning, features cutting-edge technology, with a maximum regasification capacity of 5.5 billion cubic meters per year.
FSRU Alexandroupolis: On October 1st, commercial operation of the station begins
The next day
Already 14 Greek and international companies are commercially participating in the project, committing almost all of their capacity with a time horizon of at least until 2030. At the same time, the start of commercial operation of the project marks the expansion of the Vertical Corridor initiative, significantly strengthening its dynamic with the aim of creating a natural gas trading center in Central and Southeast Europe.
The Gastrade team, together with its strategic partners and shareholders, Elmina Kopelouzou, Gaslog, DEPA Emporias, Bulgartransgaz and DESFA, thanks all agencies who contributed to the successful completion of this National project and remains committed to ensuring a more sustainable energy future and insurance for Greece and Europe.
Gastrade CEO Kostis Sifnaios said:
“We are all, from the Gastrade team, very proud and excited to have reached the end of this long journey successfully and to deliver such an important project to our country and the entire region that surrounds us. Our vision is to operate this project on the market in a way that is friendly to Alexandroupolis society, the environment and our customers, offering a stable and reliable alternative proposal for our entire region. We want to become a reference in the quality of the services we offer.”
“It took one man’s vision, fifteen years of effort and almost two years of intensive technical preparation for Greece, Alexandroupoli, to acquire a cutting-edge project for the energy data of the entire European region. The Alexandroupolis LNG Terminal is much more than a business project. It is tangible proof of the possibilities we have in Greece to create European infrastructures that respond to the problems of our times, providing opportunities and perspectives for a better and sustainable energy future” emphasizes the Company’s founding shareholder, Mrs. Elmina Kopelouzou.
“GasLog is proud to have played a key role in the development of the project from the beginning, in the conversion of an LNG carrier to FSRU, the delivery of the floating unit to Alexandroupolis and the successful commissioning of the Alexandroupolis Terminal, contributing as shareholder, but as an FSRU operator, maintaining our commitment to providing reliable and innovative LNG services on a global scale,” said Mr. Paolo Enoizi, CEO of GasLog.
“Today marks the beginning of a new chapter in the energy landscape of our region. Designed with a forward-looking vision, the Alexandroupolis LNG Terminal represents a tangible solution to the pressing challenges of energy security and diversification of supply sources in Southeast Europe. Through this project, we guarantee access to more reliable and diversified energy sources, creating new economic opportunities for the local community and strengthening our nation’s geopolitical position. We are very proud of DEPA Emporia’s decisive contribution to the successful implementation of this strategic infrastructure, which will bring significant benefits to both Greece and neighboring countries”, said Konstantinos Xifaras, CEO of DEPA Emporia.
“The start of commercial operation of FSRU Alexandroupolis is an important milestone to ensure the diversification of the supply portfolio and to ensure energy security not only for Bulgaria but also for the Southeast European region. The decision, taken in 2020, by Bulgaria and Bulgartransgaz to become shareholders with a 20% stake in Gastrade AE turned out to be strategic. Today, the Alexandroupolis FSRU is undoubtedly a critical infrastructure that guarantees access to natural gas supplies from safe and reliable sources such as the USA, Qatar, Egypt, etc. The growing role of LNG for the region and the presence of this new LNG storage and regasification capacity are of extreme importance for Southeast European countries that wish to diversify their supply and become independent of Russian natural gas. It will also improve the liquidity and integration of the energy market in our region”, commented Kiril Ravnachki, CEO of Bulgartransgaz.
“The start of commercial operation of the Alexandroupolis LNG Terminal (Alexandroupolis FSRU) is a milestone, establishing Greece as a key energy gateway to Southeast Europe and beyond. This new LNG import terminal, combined with the of Revythoussa LNG and DESFA’s investments to increase the export capacity of the Greek grid, as well as initiatives such as TAP, IGB and the Vertical Corridor, further strengthen the region’s energy infrastructure and interconnectivity,” added Ms. Maria Rita Galli, CEO of DESFA.