site.btaBulgartransgaz Considers Investing in Second LNG Terminal in Greece

Bulgartransgaz Considers Investing in Second LNG Terminal in Greece
Bulgartransgaz Considers Investing in Second LNG Terminal in Greece
A floating platform for LNG at Alexandroupolis (Photo by Bulgartransgaz)

Bulgarian gas transmission operator Bulgartransgaz will analyze all opportunities for investment in a second LNG terminal in Greece, Bulgartransgaz Executive Director Vladimir Malinov said during the 23rd World LNG Summit & Awards held in Athens. He was quoted by his company's press office Thursday.

Hosted by the Greek Ministry of Environment and Energy, the World LNG Summit is held annually to bring together representatives of leading international gas companies to discuss market development opportunities.

Bulgartransgaz owns 20% of the Alexandroupolis LNG terminal, which is under construction and is expected to go into operation in early 2024.

The company said that it was confirmed during the forum by US Ambassador in Greece George Tsunis and by Vladimir Malinov that the floating storage regasification unit (FSRU) has left Keppel Corporation's shipyard in Singapore and is expected to arrive in Alexandroupolis in mid-December. 

Malinov is quoted as saying that LNG has a crucial role and its share in the energy mix is expected to continue to grow. In this regard, the gas transmission operators along the Vertical Gas Corridor are developing incremental capacity projects to meet the increased interest in transporting natural gas from south to north. “Connecting the gas transmission networks of Greece, Bulgaria, Romania and Hungary and providing a technical capability for bi-directional natural gas transmission will enable the transport of additional LNG quantities to be increased in the most efficient way,” Malinov added.

He is further quoted as saying that the expansion of the underground gas storage facility in Chiren is expected to be completed by the end of 2024 in order to fully meet the needs of the market. "The synergy of the Vertical Gas Corridor projects, the Alexandroupolis terminal and the Chiren expansion will provide the necessary conditions for supplying larger volumes of LNG not only to the Greek and Bulgarian markets, but also to the entire region, including Serbia, North Macedonia, Ukraine and Moldova,” Malinov said. 

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By 01:28 on 27.02.2024 Today`s news

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