Work is continuing on schedule for the installation of a floating storage regasification unit (FSRU) off the extreme northeast port of Alexandroupolis, according a spokesman for Gaslog, one of the partners in the consortium behind the project.
The new FRSU in northeast Greece is considered as yet another alternative natural gas hub for Greece and the EU, as such it has attracted heightened US interest, given Washington's standing position in favor of a differentiation in Europe's energy sources and providers.
The Gastrade company is in charge of the project, while NYSE-listed Gaslog owns a 20-percent stake in the former.
GasLog CEO Paul Wogan this week said the project continues to record progress towards the direction of a Final Investment Decision (FID). Along those lines, negotiations with Greece's DE.PA and the Bulgarian Energy Holding over the participation in the project are in a final stage.
He added that the FSRU is scheduled to begin operation in the second half of 2020, with the FID expected no later than the end of 2018.
