EC approves Bulgartransgaz participation in Greek LNG terminal project

Energy Trade

The European Commission said on Monday that it has approved the acquisition of joint control of Gastrade, the Greek company developing the floating liquefied natural gas (LNG) terminal off the city of Alexandroupolis, by Greek-based companies Hellenic Gas Transmission System Operator(DESFA) and DEPA Commercial, private individual Asimina‐Eleni Copelouzou, Cyprus' GasLog, and Bulgarian gas transmission system operator Bulgartransgaz, according to a report by Seenews.

The proposed acquisition would raise no competition concerns, given the presence of competing gas import infrastructures and the Greek regulations in place, including those concerning the tariffs to be charged by LNG terminals and those laying down access obligations to LNG terminals and to DESFA's transmission system, the Commission said in a statement.

Earlier this year, Gastrade said that the deal for the participation of Bulgartransgaz with 20% in its share capital was completed, following the approval by the Bulgarian competition authority.

The LNG terminal in Alexandroupolis is planned to comprise an LNG floating storage and regasification unit which will be a new, independent energy gateway for the markets of Southeastern and Central Europe. The LNG terminal project is expected to commence operations in 2023. 

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