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Romgaz considers investing in LNG terminal project in Greece


The national gas producer, Romgaz, is considering the possibility of entering into the shareholding of the company that makes the liquefied natural gas (LNG) terminal in Alexandropolis, Greece, said Adrian Volintiru, general manager of the gas producer, on Monday.

“We are analyzing the idea of entering the shareholding of the LNG terminal in Alexandropolis. There is a structure already defined, with five shareholders, and we would like a 20% stake. But the logical decision belongs to the majority shareholder and will be taken at the moment. For now, we are in the process of risk and economic assessment of the indicators, as presented to us by the Greek side,” Volintiru said.

According to him, the Greek side will make a final decision in the first part of next year, according to Agerpres. “It’s a new investment. It might be advantageous for us to buy LNG and then see what you do with it, from that terminal, either you swap it or you bring it through the pipeline. The Greek-Bulgarian pipeline has exactly that purpose and it will help,” added the Romgaz official.

Volintiru also said that the initial investment for Romgaz would be 12.5 million euros, plus a similar value in the two years of execution.

Romgaz, a natural gas producer 70% controlled by the Romanian state through the Ministry of Energy, could invest in a Greek liquefied natural gas (LNG) terminal project planned to be developed in the Aegean Sea by private company Gastrade -- part of the Greek private energy group Copelouzos.

Bulgaria's national gas transmission system operator Bulgartransgaz, as well as Cheniere Energy, one of the largest U.S. LNG exporters have expressed interest in the project as well.

Thus, Romgaz is considering the possibility of taking over 20% of the shares of the project company that would develop the LNG Alexandroupolis terminal, Gastrade.

The final decision will belong to the shareholders of Romgaz.

The Alexandroupolis LNG terminal would have a transit capacity of over 6 billion cubic meters of gas per year and a storage capacity of 170,000 cubic meters of LNG