Greek state-run DEPA signed a deal with the compatriot utility Gastrade to participate in the market test to be carried out in the coming months for the LNG terminal project in Northern Greece.
The agreement is following up on the cooperation deal that ensured Depa’s participation in the Alexandroupolis FSRU project through the participation in the share capital of Gastrade.
The project, proposed for the area of Alexandroupolis, Greece, will secure new natural gas quantities for the supply of the Greek and the regional South-East European markets, offering new sources and routes of natural gas supply, enhancing the security of supply in Greece and the Balkan markets and improving the reliability and flexibility of the Greek National Natural Gas Transmission System and of the regional and trans-European gas networks.
The project will include the deployment of a floating storage and regasification unit (FSRU) to be operated and maintained by the Monaco-based shipper, GasLog that has already secured 20 percent shareholding in Gastrade.
The floating storage and regasification unit will have a 170,000 cubic meter storage capacity and will be capable of regasifying 400 cubic meters of LNG per hour.