Gastrade extends deadline for Alexandroupolis LNG capacity bids

gastrade

Gastrade, the Greek developer of a planned floating LNG import facility at Alexandroupolis in northern Greece, has extended the deadline for binding bids for capacity in the project to March 10, it said.

The original deadline for interested participants to submit their offers was Monday, but Gastrade opted to extend the deadline to allow interested parties more time to submit their bids.

In particular, Gastrade said it wanted to attract bidders that did not take part in the first, non-binding phase for expressions of interest in Alexandroupolis LNG capacity.

“In order to achieve the maximum possible participation in the market test for capacity, we hereby invite all interested parties, which did not participate in the first, non-binding, phase, […] to take part in this binding phase directly,” it said.

“The deadline for submitting binding offers for all parties participating in the binding phase of the market test is hereby extended to Tuesday, March 10, 1700 Greek time,” it said.

Greece already has one operating LNG import terminal at Revithoussa, which started operations in 2000 and expanded its capacity last year, but the government is supporting a second plant as part of efforts to become a regional gas hub.
First phase

In the first, non-binding market test for Alexandroupolis LNG capacity, 20 companies submitted expressions of interest for a total of up to 12.2 Bcm/year of reserved regasification capacity.

That is well in excess of the technical capacity of the project, which is designed at 5.5 Bcm/year.

The terminal has attracted interest from major LNG producers and suppliers, both new and existing, including companies from the US, Israel, Qatar and Algeria, as well as from large international LNG traders, according to Gastrade.

Gastrade has said the project aims to provide a new gateway for gas supply to southeast European markets.

“It will offer to the region security of supply, diversification of gas routes and sources, price flexibility and enhanced competition,” Gastrade said.
Commercial start-up

The FSRU will have a nominal regasification and send-out capacity of 5.5 Bcm/year, it said, and a peak technical regasification and send-out capacity of 22.8 million cu m/d.

The tender process for the construction of the project is also underway, with a commercial start-up date planned for Q3 2022.

Bulgaria’s state-owned gas grid operator Bulgartransgaz in January finalized taking a 20% stake in Gastrade after Greece’s DEPA also took a 20% stake in December.

LNG shipper Gaslog also has a 20% stake, while Romania’s Romgaz is also eyeing a 20% stake.

Should the Romgaz stake be finalized, it would leave the final 20% owned by Gastrade founding shareholder Elmina Copelouzou.

The LNG facility is designed to work in tandem with the planned Interconnector Greece-Bulgaria, or IGB, which is to bring gas from Azerbaijan to southeastern Europe via the TANAP/TAP gas pipeline system from 2021.

The FSRU will be connected to the Greek gas transmission system through a 28 km pipeline that will allow the transportation of regasified LNG to the markets of Greece and the wider region, in particular Bulgaria, Romania, Serbia, North Macedonia, Hungary and Ukraine, Gastrade said.

Source: Platts

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