Alexandroupolis LNG terminal reduces Greece’s energy dependence on Turkey

Alexandroupolis LNG terminal reduces Greece's energy dependence on Turkey 1

Both Greece and the whole of southeastern and central Europe are leading to a drastic reduction of energy dependence on Turkey with the creation of the Liquefied Natural Gas (LNG) terminal in the northeastern port city of Alexandroupolis.Alexandroupolis LNG terminal reduces Greece's energy dependence on Turkey 2

Just yesterday, another important agreement was signed in the presence of Greek Prime Minister Kyriakos Mitsotakis and his Bulgarian counterpart Boyko Borisov, enabling Bulgartransgaz, the operator of Bulgaria’s national gas system, to participate in temporary storage and gasification of liquefied natural gas developed by the Greek company Gastrade in the capital of Evros.

With the operation of this station, Turkey essentially ceases to be the main supplier of natural gas to the Balkan Peninsula and the reins are gradually passed to Greece, which is methodically building alliances with all its other neighbors. As the Prime Minister stressed, “through Bulgaria the gas will reach another of our mutual friends, Romania.”

Now, the announcement of the Greek company Gastrade acquiring 20% of its share capital, by the Bulgarian Bulgartransgaz Ead (BTG), changes the data in the energy sector since with the new axis the differentiation of the natural gas routes is achieved. At the same time, this investment will certainly stimulate the dynamic development of eastern Macedonia and Thrace.

Alexandroupolis LNG terminal reduces Greece's energy dependence on Turkey 3“And when the remote region is prospering, then the whole of Greece is prospering. But the benefits, when multiplied, are spread to our neighbors,” said the prime minister.

Alexandroupoli is a hub of wealth and prosperity

Mitsotakis added that “Alexandroupolis, with this investment, opens its doors to liquefied natural gas from several different suppliers, including the United States, who expressed a strategic interest in further development of the port. With the new floating station and the new pipeline, the port of Alexandroupolis becomes a hub of cooperation, a source of wealth and prosperity for our countries and their peoples. This port was once the object of wars in past centuries. Today it is an example of how far we can go from peaceful coexistence and economic cooperation for the benefit of not only our two peoples, but also of the wider Balkan region.”

“An important day for Greece today!” said Kostis Hatzidakis, the Minister for the Environment and Energy. “With the signatures for the FSRU of Alexandroupolis, the geostrategic position of Greece is further strengthened. The gas will be channelled through Alexandroupolis and the Greek-Bulgarian IGB pipeline – which is under construction – throughout Southeastern and Central Europe.

“I feel great satisfaction that I also contributed last year to this great national success,” added the Minister of Environment and Energy, giving an idea of ​​the dynamics of the investment.