Gastrade secures 2.6 Bcm/year in capacity bookings for Greek LNG terminal - HELLENIC SHIPPING NEWS / PLATTS

27/MARCH/2020

Author: Stuart Elliott, Editor: Jonathan Dart

• Less than half of design capacity of Alexandroupolis LNG
• Non-binding first phase saw interest for 12.2 Bcm/year
• Commercial start-up of FSRU expected in Q3 2022

London - Greece’s Gastrade, the developer of a planned floating LNG import facility at Alexandroupolis in northern Greece, said Thursday it had secured 2.6 Bcm a year of capacity bookings following a binding market test process that ended Tuesday.

Capacity was booked for periods up to 15 years and parties reserving capacity included both Greek and international gas companies, as well as end-users, Gastrade said.

The company described the process as having been “successfully” concluded, although the booked capacity is less than 50% of the terminal’s design capacity of 5.5 Bcm/year.

Gastrade closes Alexandroupolis FSRU market test - LNG WORLD NEWS

January 3, 2019

Greece’s Gastrade said it has completed the first phase of the market test for the reservation of regasification capacity at the proposed floating LNG import terminal in Alexandroupolis.

Twenty companies submitted expressions of interest for a total of up to 12.2 billion cubic meters/year of regasification capacity reservation at the floating terminal and delivery to the Greek national natural gas transmission system.

These gas quantities will be directed towards the markets of the wider Southeastern European region, Gastrade said, adding that the expressions of interest surpassed the technical capacity of the project which is designed at 5.5 bcm/year.

“The highly successful outcome of the first phase of the market test and the great interest expressed for the Alexandroupolis LNG project by many important regional and international gas players is an essential step for the implementation of the project and ultimately for the upgrade of the energy position and the energy supply diversification of Greece, Bulgaria and the SE Europe as a whole,” said Konstantinos Spyropoulos, managing director of Gastrade.

GasLog Ltd. (GLOG) Enters Agreement For FSRU Project With Gastrade - STREET INSIDER

December 22, 2016 6:54 AM EST 

GasLog Ltd. (NYSE: GLOG) today announces that a wholly owned subsidiary of GasLog has entered into a sale and purchase agreement (“SPA”) to acquire a twenty percent (20%) shareholding in Gastrade S.A. (“Gastrade”). Gastrade is licensed to develop an independent natural gas system offshore Alexandroupolis in Northern Greece utilizing a floating storage and regasification unit (“FSRU”) along with other fixed infrastructure.

Gastrade is a private limited company, incorporated in Greece and wholly owned by Asimina-Eleni Copelouzou. Gastrade has been involved in the development of this FSRU project over a number of years. Closing of the SPA acquisition is subject to the satisfaction of certain closing conditions set out in the transaction documents. GasLog, as well as being a shareholder, will provide operations and maintenance (“O&M”) services for the FSRU through an O&M agreement.