x

Economy

Pyatt Welcomes Milestone in LNG Station Project for Alexandroupolis

January 29, 2022

ATHENS – United States Ambassador to Greece Geoffrey Pyatt welcomed Gastrade’s adoption of the Final Investment Decision (FID) for the construction of the Alexandroupolis Independent Natural Gas System (INGS), in a tweet on Friday.

The FID is the last and most important milestone, before entering the project’s construction phase, and as Ambassador Pyatt noted, “A big step forward for energy security and climate SE Europe. Congratulations all around.”

Gastrade announced the news on Friday, following shareholders’ approval that all requirements for the materialization of the project have been secured, and the project is on track in line with its schedule.

The construction and operation of the Alexandroupolis Liquefied Natural Gas (LNG) Terminal will contribute to the energy security, liquidity and diversification of the country and the entire Southeastern Europe region, strengthening the strategic role of Greece and offering alternative sources and routes for the supply of natural gas in the area.

The Floating Storage and Regasification Unit (FSRU), with a capacity of 153,500 sq.m. of LNG, will be connected to the National Natural Gas Transmission System of Greece with a 28km-long pipeline, through which the gasified LNG will be transmitted to the markets of Greece, Bulgaria and the wider region, from Romania, Serbia and North Macedonia, as all the way to Moldova and Ukraine.

The Terminal is expected to operate by the end of 2023, with the contracted regasification capacity already reaching up to 50% of it’s technical capacity of 5.5 billion sq.m. per year. Alexandroupolis INGS is included in and financed by the Operational Program of the NSRF “Competitiveness, Entrepreneurship and Innovation 2014-2020” (EPAnEK), with an amount of public spending of 166.7 million Euros.

The Alexandroupolis LNG project also involves the Hellenic Natural Gas Transmission System Operator SA (DESFA), the Public Gas Corporation of Greece (DEPA Commercial S.A.), GasLog Cyprus Investments Ltd, and Bulgartransgaz EAD of Bulgaria.

RELATED

ATHENS — The flame that will burn at the Olympics is spending the night at the ancient Acropolis in Athens, a week before its handover to Paris 2024 organizers.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

Indians Vote in the First Phase of the World’s Largest Election as Modi Seeks a Third Term

NEW DELHI (AP) — Millions of Indians began voting Friday in a six-week election that's a referendum on Narendra Modi, the populist prime minister who has championed an assertive brand of Hindu nationalist politics and is seeking a rare third term as the country's leader.

Eating a variety of vegetables is one of the key components to the healthy Greek diet and lifestyle.

ASTORIA – The Greek Cultural Center (GCC) in collaboration with Boann Books and Media present ‘Boann and the Well of Wisdom’ at the GCC, 26-80 30th Street in Astoria, April 25-28, one weekend only.

ALBANY – New York State Assemblyman Michael Tannousis (R, C-Staten Island/Brooklyn) released a statement on April 18 concerning the state budget.

NEW YORK (AP) — A man who doused himself in an accelerant and set himself on fire outside the courthouse where former President Donald Trump is on trial has died, police said.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.