Bulgarian Energy Holding (BEH), a company belonging to the Ministry of Energy of Bulgaria, and Greek natural gas company Gastrade have joined forces to prepare a proposal to construct a floating LNG terminal in Alexandroupolis, northern Greece.
The duo has signed the terms of reference (TOR) for the creation of a joint working team that will study and propose to the Bulgarian government the optimum way for the implementation of decision of Bulgaria to participate in the project, Gastrade said.
The LNG terminal will materially enhance the energy security of Bulgaria offering at the same time the possibility for Bulgaria to differentiate its sources and routes of natural gas supply, according to Gastrade.
The facility would supply gas to the markets of South Europe via the Interconnector Greece-Bulgaria and the National Natural Gas Transmission System of Bulgaria, operated by Bulgartransgaz.
With an estimated capacity of 6.1 billion cubic meters, Alexandroupolis terminal will cost about EUR 370 million (approx. USD 413 million) and is expected to be operational at the end of 2018, Reuters reports.
The offshore floating LNG terminal would include the floating LNG storage and re-gasification unit (FSRU) with initial LNG storage capacity of 135,000 cubic meters and projected annual gas send-out of 2.6 bcm as well as the permanent FSRU mooring system for the anchoring of the FSRU and the transmission of gas from the FSRU to the subsea pipeline.