Greek firm Gastrade signs LNG deal with state-owned DEPA
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ATHENS, Oct 12 (Reuters) – Greece’s state controlled natural gas firm DEPA signed a cooperation agreement on Thursday with natural gas company Gastrade to participate in the development of a liquified natural gas terminal in northern Greece, DEPA said.
The project has been described as a ‘project of common interest’ by the European Union.
Gastrade will hold at least 20 percent stake in the scheme, a source close to the matter said, with LNG carrier operator GasLog another 20 percent.
The facility, with an estimated annual capacity of 6.1 billion cubic metres (bcm), will seek to supply gas to southeastern Europe via another natural gas pipeline scheme that will cross through Greece, the Interconnector Greece-Bulgaria (IGB).
The Alexandroupolis terminal is expected to cost about 370 million euros ($438.01 million). ($1 = 0.8447 euros) (Reporting by Angeliki Koutantou. Editing by Jane Merriman)