Greek utility company Gastrade has extended the timeline for completion of its Greek LNG development by six months to allow more time for the delivery of offshore floating, storage and regasification unit (FSRU) for the Alexandroupolis Independent Natural Gas System Project.
Gastrade, the developer of the 5.5 billion cubic metre per year regasification project, has pushed back its completion date from the end of 2020 to the second quarter of 2021 to give interested suppliers more time to deliver an FSRU.
The project is being developed by Gastrade, and consists of an offshore FSRU, as well as a mooring, and a system of subsea and onshore gas transmission pipelines, through which natural gas will be delivered to the Greek National Natural Gas Transmission System (NNGTS) and subsequently to final customers.
The FSRU will be stationed in the sea of Thrace, 17.6 km SW of the town of Alexandroupolis in NE Greece at an offshore distance of approximately 5.4 n.m. (10 km) from the nearest shore. The Pipeline will be connecting the FSRU to the NNGTS near the village of Amphitriti, 5.5km NE of Alexandroupolis.
The project is included in the European Union list of Projects of Common Interest (PCI) and is expected to be financed through own resources with possible co-financing from public funds.
Public funds will be provided through the Greek Public Investment Programme, partly through national participation and partly through the European Union / European Regional Development Fund (ERDF), within the 2014-2020 programming period and under the Operational Programme "Competitiveness, Entrepreneurship and Innovation”.