March 2, 2024
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HomeSEE Energy NewsBulgaria: Bulgartransgaz is considering investment in a second LNG terminal in Greece

Bulgaria: Bulgartransgaz is considering investment in a second LNG terminal in Greece

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Bulgarian gas transmission operator Bulgartransgaz plans to explore opportunities for investment in a second liquefied natural gas (LNG) terminal in Greece, to prepare for an increase in the LNG’s share in the energy mix.

Bulgartransgaz, a 20% shareholder in the LNG terminal under construction in Alexandroupolis, said in a statement that the floating storage regasification unit has left Keppel Corporation’s shipyard in Singapore and is expected to arrive in this Greek Aegean Sea port in mid-December.

The Alexandroupolis LNG terminal is planned to be commissioned at the beginning of 2024.

Bulgartransgaz expects to complete works on the expansion of underground gas storage facility Chiren by the end of 2024. Chiren’s capacity is set to double to 1 billion cubic metres (bcm). Under EU rules on gas storage adopted in 2022, member states lacking storage facilities must ensure they can store at least 15% of their annual gas consumption in another EU state.

LNG volumes are set to rise because of growing interest in South-North transmission.

The Alexandroupolis LNG terminal has a regasification capacity of 5.5 billion cubic metres (bcm) per year. Bulgaria, which uses some 3 bcm of natural gas per year, has booked an annual storage capacity of 1 bcm at the terminal. The facility is being developed by project company Gastrade, which has four other shareholders with stakes of 20% each – Greek gas transmission operator DESFA, Gaslog Cyprus Investment, Greek gas supplier DEPA Commercial and Elmina Copelouzos of the Copelouzos Group.

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