Bulgaria: double LNG capacity through new facility in Greece
The interim energy minister of Bulgaria announced that Bulgaria has agreed to double its reserved capacity at a new liquefied natural gas (LNG) facility to be built off the northern Greek port of Alexandroupolis.
Bulgaria has been struggling to secure natural gas at optimal prices for the coming winter after Russia halted its gas supplies in April over Sofia’s refusal to pay in roubles amid European sanctions on Moscow over its invasion of Ukraine. The interim government sought talks with Gazprom to renew supplies under the current contract that expires at the end of 2022 and reschedule gas shipments. Many local energy experts have slammed the plan as risky, pointing that Russia has used gas as a political tool to drive a wedge between EU members and outlining risks such talks could prompt at an eventual future arbitration case.
Now the new terminal that will help the Balkan country ensure diversified and stable gas supplies has been announced.
The Alexandroupolis terminal will be able to process 5.5 billion cubic meters (bcm) of LNG annually and store 153,500 cubic meters. It will be built by a consortium of Greece’s Copelouzos family, Greek gas companies DEPA and DESFA, Bulgaria’s Bulgartransgaz and Cyprus’s Gaslog and is expected to become operational at the end of 2023.
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