The EC approved additional funding for the LNG Greek’s terminal of Alexandroupolis

The European Commission has granted Greece permission to provide 106 million euros in state aid for the completion of the liquefied natural gas terminal in Alexandroupolis, as announced by the EC.

Greek authorities have informed the Commission of their intentions to offer additional assistance to the operator of the new terminal, Gastrade SA. This measure is designed to facilitate the timely completion of the terminal, which is scheduled for the end of 2023.

The assistance will be provided in the form of a direct grant. According to Brussels, this state aid is essential because the project holds significant importance in ensuring gas supplies to Greece and the Southeast European region, as well as achieving diversification of energy sources and reducing dependence on Russian fossil fuels, as reported by BNT.

The Commission has determined that the positive impacts of this measure outweigh any potential negative effects on competition and trade within the EU.

Construction of the Alexandroupolis LNG terminal commenced in May 2022, with operations expected to commence by the end of this year. Bulgaria’s gas operator, Bulgartransgaz, holds a 20% stake in the terminal.

Bulgaria has successfully renegotiated the reserved capacity, securing access to one billion cubic meters of liquefied gas through the Alexandroupolis platform—double the previous amount.

Energy experts anticipate a growing commercial interest in the terminal, which will lead to increased gas supplies to European countries.

Economists cited by BNR affirm that gas unloaded in Alexandroupolis will be distributed with full transparency through auctions.

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