Brussels clears investments in Greek LNG project
The European Commission (EC) announced on November 29 it had approved the purchase of interests in the planned Gastrade LNG import project in Greece by five investors.
The EC said the acquisitions by Greek gas companies DESFA and DEPA Commercial, Greek businesswoman Asimina-Eleni Copelouzou, Cypriot LNG carrier operator GasLog and Bulgarian gas transmission operator Bulgartransgaz, did not raise competition concerns.
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The floating regasification and storage unit (FSRU) is due to be placed off the shore of Alexandroupolis and will import up to 5.5bn m3/year of gas, complementing Greece's existing Revithoussa terminal. It is expected online in 2023, but a final investment decision has not yet been taken.
The EU backed the project with a $200mn grant in June.