Greece''s first offshore LNG terminal coming online in 2024 to
Operated by the Gastrade consortium, the DNV-classed terminal off Greece will curb the region''s dependence on natural gas delivered through a single, land-based pipeline.
The US is highly invested in this project since Greece's gas network is the main gateway for American LNG into the Balkans and Eastern Europe. Currently, Greece's national LNG capacity exceeds 10 billion cubic meters annually through the Revithoussa terminal and the Alexandroupoli Floating Storage and Regasification Unit (FSRU).
The facility, with a capacity to regasify a maximum of 5.5 billion cubic metres (bcm) of LNG annually, complements a joint initiative by Greece and those countries to facilitate gas flows.
Greece, which typically consumes about 6-7 billion cubic meters of gas a year, has increased capacity for LNG imports through the upgrade of its Revithoussa LNG terminal and the recently completed Alexandroupoli floating storage regassification unit (FSRU).
Upon its completion, this ambitious project is projected to transport an estimated 20-25 billion cubic meters of natural gas annually from south to north, positioning Greece as a leading player in securing Europe's energy independence from Russian supplies and significantly enhancing its geopolitical standing.
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