Participation of DEPA in the Alexandroupolis LNG project

24 December, 2019

On December 23rd the Board of Directors of DEPA S.A. approved the participation of DEPA by a percentage of 20% in the share capital of GASTRADE S.A.

GASTRADE is developing the LNG Terminal in Northern Greece off the shore of Alexandroupolis.

The Terminal comprises a floating LNG storage and regasification unit (FSRU) and a 28 km pipeline system. The LNG storage capacity of the FSRU will be up to 170,000 cubic metres and the maximum daily regasification capacity 22.7 million c.m. The FSRU will be moored 10 km offshore the city of Alexandroupolis and will be connected to the National Natural Gas Transmission System via a 28 km pipeline (24 km subsea pipeline and 4 km onshore pipeline).

This is a Project of European Common Interest (PCI – EU Regulation 347/2013), i.e. a priority project for the European Union. As such this project will enhance the security of supply, diversify the energy sources and routes and support the development of competition in Greece and the wider region of Southeast Europe.

This project supports and creates great synergies with the Interconnector Greece – Bulgaria (IGB), another project where DEPA has a significant participation. The IGB is a pipeline that will transmit natural gas to Greece, Bulgaria, Serbia, North Macedonia, Romania, Hungary as well as Ukraine.

DEPA is a modern and competitive group of companies with a dynamic position in the energy sector. The participation of DEPA in the project brings the company’s experience in the materialization of strategic natural gas infrastructure and will contribute significantly to the development of the Alexandroupolis project.

The Managing Director of GASTRADE Mr. Konstantinos Spyropoulos stated,«We welcome DEPA at the project and we are happy that we are going to collaborate for its development. The experience and the size of DEPA are a guarantee for the successful operation of the project».

The LNG Terminal in Northern Greece is expected to start operations in 2022.