Athens, Aug. 24, 2020 Greece and Bulgaria on Monday signed an agreement on involving state gas company Bulgartransgaz in the construction of a Liquid Natural Gas (LNG) terminal in the Greek city of Alexandroupoli.
Greek Prime Minister Kyriakos Mitsotakis and his Bulgarian counterpart, Boyko Borissov, were present at the signing ceremony.
“This major investment has been launched with the end goal of turning our easternmost European port into a global energy center,” Mitsotakis said.
The project is worth about $453 million, according to the Greek prime minister.
“Thanks to these investments, Alexandroupoli opens its gates to liquid natural gas from various suppliers, including the U.S.,” Mitsotakis added.
The Alexandroupoli terminal is scheduled for launch in late 2022-early 2023.
Its main suppliers are said to be companies from the U.S., Qatar, and other countries.
The move by Bulgaria is part of efforts it is making to move away from its almost complete dependence on gas from Russia.