DEPA eyeing LNG terminal

Public Gas Corporation (DEPA) is weighing the idea of acquiring a 20 percent stake in the project of the planned liquefied natural gas (LNG) terminal off Alexandroupoli, in northern Greece, after the project received a fresh boost from the completion of the entry of GasLog (which belongs to shipowner Peter Livanos) with another 20 percent stake.

DEPA’s interest was originally expressed by the corporation’s previous management, but that later subsided. However, Kathimerini now understands that this interest has been revived, with DEPA’s new management, led by Theodoros Kitsakos, locked in discussions with Gastrade (a member of the Copelouzos Group), which is promoting the construction of the Alexandroupoli terminal.

DEPA’s interest is also associated with the Interconnector GreeceBulgaria (IGB) pipeline, as together the two projects could strengthen Greece’s ambitions of operating a natural gas hub that could serve as an alternative source of supply for the countries in the broader region. Apparently, DEPA is setting the implementation of a market test to certify the sustainability of the project as a condition for its participation in the terminal project.

Bulgaria is also interested in the terminal, through Bulgarian Energy Holding, as Sofia is eager to obtain an alternative source of gas given its 100 percent dependence on Russia’s Gazprom.

The increase in gross domestic product in the third quarter of 2016 has not had any positive impact on Greeks’ everyday lives – for the time being at least. Few Greeks can afford to splash out on items beyond their daily needs.