Greek LNG Capacity Open Season Sells Out

The first phase of the market test for capacity at the planned floating LNG terminal in Alexandroupolis, north Greece, developed by the Greek utility Gastrade, drew bids from 20 companies, Gastrade said January 2.

Their combined expressions of interest totalled 12.2bn m³/ year of regasification and pipeline capacity to the Greek gas transmission system. This is more than twice the technical capacity of the project which is designed at 5.5bn m³/yr, it said. The project will proceed to the binding bid phase once the Greek energy regulator RAE has approved the guidelines.

"The highly successful outcome of the first phase of the market test and the great interest expressed in 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 southeast Europe as a whole," said Gastrade CEO Konstantinos Spyropoulos.

The first phase began October 30 and ended December 31. The final investment decision had been expected to be taken in early 2018. Investors in the project include FLNG operator Gaslog and Greek importer and supplier Depa.