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    Depa to Take Stake in Greek FSRU

Summary

The import facility will serve customers in Greece and further afield.

by: Joseph Murphy

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Natural Gas & LNG News, Europe, Liquified Natural Gas (LNG), Premium, Corporate, Mergers & Acquisitions, Import/Export, News By Country, Greece

Depa to Take Stake in Greek FSRU

The board of directors of Greek gas utility Depa have approved the purchase of a 20% stake in Gastrade, the company planning to install an LNG floating storage and regasification (FSRU) unit in Alexandroupolis.

The purchase is subject to approval by regulators, Depa said in a statement announcing the board’s decision on December 23, noting it would also conduct due diligence.

The offshore Alexandroupolis FSRU is expected to have a storage capacity of 170,000 m3 and an import capacity of 8.3bn m3/yr. Its aim will be to serve customers in Greece and further afield, using the Interconnector Greece-Bulgaria (IGB) pipeline due on stream in 2020.

A final investment decision on the FSRU is expected to be taken in the third quarter of 2020, with operations scheduled to start in September 2022.

Gastrade is part of Greek energy firm Copelouzos.