Venture Global LNG has secured around 1 Mtpa of LNG regasification capacity at the new Alexandroupolis LNG receiving terminal in Greece for five years from 2025.
The long-term terminal use agreement was signed with Gastrade. Venture Global LNG will account for around 25% of total terminal capacity, or approximately 12 cargoes annually.
The new LNG FSRU terminal and South-North Vertical Corridor will be essential in enhancing central and eastern European energy security by providing a new route to bring alternative supplies of natural gas to the region.
Critical energy infrastructure projects in Greece have been supported in part by European co-funding as well as the US Government Development Finance Corporation.
Mike Sabel, Venture Global CEO, said, “This move further integrates our business by growing our assets across the LNG supply chain including LNG production, shipping and regasification. As a major point of entry for LNG into central and eastern Europe, this strategically important infrastructure will be a game changer for the region’s ability to diversify their energy and access a secure and reliable energy supply.”
The company will supply volumes from Plaquemines LNG and the future CP2 LNG.
Gastrade recently announced that commercial operations at at the LNG Alexandroupolis Terminal will start on October 1st, following completion of all commissioning tests.
LNG carriers will transfer liquid cargo to FSRU tanks through cryogenic hoses.
The floating unit, Alexandroupolis INGS, will be permanently moored at a fixed point and at a distance of 17.6km south-west from the port of Alexandroupolis, and another unit, Thrace INGS, is planned to be anchored permanently at a distance of 8km east of the LNG terminal.
An MOU was signed with a range of partners in January, including Slovakia, Moldova and Ukraine, cementing cooperation across gas and LNG transmission system operators under the Vertical Corridor initiative.
Venture Global launched its first LNG vessel, the Venture Gator, at the Samsung Heavy Industries shipyard in Geoji-si, South Korea in June.
Click here to read the LNG-themed September issue of gasworld global
