Greek company Gastrade is planning the Thrace INGS project that will include its second floating storage and regasification unit (FSRU) at the Sea of Thrace, offshore Alexandroupolis.
Gastrade said it submitted an application for a new Independent Natural Gas System (INGS) license to Greece’s regulatory authority. The new project Thrace INGS will feature an FSRU unit at the Sea of Thrace.
Therefore, this will be the company’s second FSRU.
The FSRU will have a storage capacity of 170,000 cubic metres of LNG . It will be able to deliver up to a maximum of 22. 7 million cubic meters per day or 5.5 bcm of natural gas per year. ,
The project will also include an offshore and onshore pipeline system. This will connect the FSRU to the existing gas transmission pipelines.
Specifically, the project is to enhance energy security and diversification of gas supply sources and routes in Greece and the entire region of Southeastern Europe. This way it will materially reduce any risk for supply interruption.
Gastrade is the first company in Greece that obtained an INGS license for the Alexandroupolis LNG Terminal. Recently, the company adopted a final investment decision. The project is now in its implementation phase with a plan to be in operation late next year. It has been included in the Operational Program of the NSRF “Competitiveness, Entrepreneurship and Innovation 2014-2020”.