Gastrade signs LNG deal with DEPA

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 liquefied natural gas terminal in northern Greece, DEPA said.

Greece currently has one LNG terminal on Revythousa, an islet off Athens.

Gastrade, part of Greek energy group Copelouzos, is planning a second LNG terminal near the northern city of Alexandroupoli.

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 holding another 20 percent.

[Reuters]