ECONOMY

DESFA joins Gastrade SA

desfa-joins-gastrade-sa

Hellenic Gas Transmission System Operator (DESFA) has officially become a partner in the shareholding structure of Gastrade SA – the company developing the Floating Storage and Regasification Unit (FSRU) of liquefied natural gas (LNG) in Alexandroupoli – with the acquisition of 20% of its share capital.

The shares’ transfer agreement was signed by DESFA CEO Maria Rita Galli and Gastrade founding shareholder and Chair Elmina Copelouzou at the Gastrade premises in Athens.

The signing of the agreement came after the recent approval by the European Commission – based on the EU Merger Regulation – for the acquisition of joint control of Gastrade by DESFA, Elmina Kopelouzou, DEPA Commerce, GasLog Cyprus Investments Ltd and Bulgaria’s Bulgartransgaz (“BTG”).

The construction of the Alexandroupoli LNG terminal is seen to be actively contributing to the country’s energy security, liquidity and efficiency and will strengthen Greece’s strategic role in southeastern Europe, offering opportunities for new natural gas exports to the region.

This is a European Project of Common Interest (PCI), which is a priority for the European Union, as it strengthens security and diversifies the sources and routes of energy supply.