Report: Bulgaria eyeing 25 pct stake in LNG project off Greece

Report Bulgaria eyeing 25 pct stake in LNG project off Greece

In order to reduce the reliance on Russian gas, Bulgaria is eyeing a 25 percent stake in the LNG terminal project proposed for the northern coast of Greece.

The floating LNG project, with an estimated cost of €380 million (approximately US$425 million), will be linked to a gas pipeline to be built by Greece and Bulgaria, Temenuzhka Petkova, Bulgarian energy minister said following a meeting with her greek counterpart Panos Skourletis, Reuters reports.

BEH, Bulgarian state-run company, and Gastrade of Greece created a team that will present a proposal for the project by the end of the month.

With the review of the proposal, Bulgarian government will weigh the possibilities for its participation in the project.

The facility is planned to have an annual capacity of 6.1 billion cubic meters and will be located some 18 kilometers off the port of Alexandroupolis.

Gastrade business development manager, Konstantinos Sifnaios, said the company does not necessarily has to hold the majority stake in the project, according to the report.

Houston-based Cheniere Energy is one of the companies interested in taking a stake in the project.

The final investment decision is expected by the middle of 2017 with commercial operations to begin in the second half of 2019.

 

LNG World News Staff

Share this article

Follow LNG World News

Events>

<< Sep 2018 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

The Nineteenth CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening is recognised as the premier end of year gathering for the global LNG industry.

read more >

Singapore International Bunkering Conference and Exhibition (SIBCON)

The 20th edition of the Singapore International Bunkering Conference and Exhibition (SIBCON) will be about inspiring change…

read more >

CWC World LNG & Gas Series: 10th Asia Pacific Summit

Now in its tenth year, CWC World LNG & Gas Series: Asia Pacific Summit returns to Singapore on 16 – 18 October 2018…

read more >

Offshore Energy Exhibition & Conference 2018

Offshore Energy Exhibition & Conference (OEEC) is Europe’s leading offshore energy event.

read more >