Financial and business news from Bulgaria

The binding phase of the market test for the terminal at Alexandroupolis - successful

The binding phase of the market test for capacity reservation at the floating liquefied natural gas terminal off Alexandroupolis has ended successfully, the project company Gaztrade said.
As 24 Hours wrote, by decision of the Bulgarian government Bulgartransgaz participated with 20% in the capital of the project company, which will own the terminal, while Bulgargaz offers a reservation of 500,000 million cubic meters per year of its capacity for 10 years.

Gaztrade reports that Greek and international natural gas companies as well as end users have confirmed their interest in booking capacity in the terminal. The total long-term profile of binding bids is for up to 15 years and reaches 2.6 billion cubic metres per year. The LNG terminal liquefied natural gas will be regasified and delivered to the markets of Greece and Southeast Europe through the Greek national gas transmission system.

The market reaction to the LNG terminal capacity filling test is extremely positive and exceeds expectations compared to experience with other similar gas projects.

“This result of the binding phase of the market test for the project in Alexandroupolis is very satisfactory for us. Review and participation of key representatives of the gas market from Greece and Southeast Europe represents a major step towards the implementation of the project and towards improving energy diversification and security of supply for Greece, the Balkans and the wider Southeast European Area”, said Konstantinos Spiropoulos, managing director of “Gaztrade”.

Earlier this year, Gaztrade gave the launch of the second phase of the market test to fill the capacity of the LNG terminal. This stage of the procedure, announced on January 10, required participants to submit binding bids.The project aims to provide a new route for gas supply to markets in Southeast Europe. It will meet growing gas demand in the region over the medium and long term, provide regional access to LNG and support gas access and market entry. For Bulgaria, Romania, Serbia and other markets in Southeast Europe, the project will carry natural gas through the Greece-Bulgaria (IGB) interconnector under construction, as well as through other existing or planned gas pipelines in the region, according to the Gaztrade announcement.


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