DEPA, Gastrade close to deal for Alexandroupoli terminal

Although DEPA, the Public Gas Corporation, has not released an official statement concerning a prospective collaboration with Gastrade, a Copelouzos corporate group company, for the development of an LNG terminal in Alexandroupoli, northeastern Greece, it appears that talks for joint development of the project have reached an advanced stage.

DEPA chief executive Spyros Paleogiannis, speaking at a recent energy sector conference, clearly indicated that a partnership would be formed with Gastrade.

According to energypress sources, an alternative LNG terminal project in Kavala, northern Greece, officially named Aegean LNG, has been removed from the European Commission’s Project of Common Interest (PCI) list and the Alexandroupoli project has remained on the list, making official its backing by DEPA and the Greek government.

EU documents concerning the Alexandroupoli project, listed as the New LNG terminal in northern Greece, refer to Gastrade and DEPA as the corporations supporting its development. Officials representing both companies are currently staging joint talks with European Commission officials for the project.

DEPA’s administration has avoided offering any official statements at this stage, but it has become clearly known that the Alexandroupoli LNG terminal ranks among the company’s top priorities. Greece’s energy ministry has also offered undisputed support.

The developing ties established between DEPA and Gastrade for the project may soon be made official, according to energypress sources. US firm Cheniere has also expressed an interest to take part in the Alexandroupoli terminal’s development, as was expressed recently by visiting company officials in Athens.

A well informed official has told energypress that Cheniere’s interest ranks one notch below that of DEPA. The same official anticipates that an agreement between DEPA and Gastrade will be reached and announced early in 2016.