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February, 2019
LNG terminal N.Greece
Located in the crossroads of the European energy corridors
Supply Sources and Supply Chain
IGB
IGB
LNG SUPPLY
• Multiple supply options
• LNG Alexandroupolis
• Greek NGTS (DESFA)
• IGB
• Bulgarian NGTS (Bulgatransgaz)
• IBS, IBR
• Romanian NGTS (Transgaz)
• Ukrainian NGTS (Ukrantransgaz)
• Trans Balkan interconnection points
• Hungarian NGTS (FGSZ)
• Reverse flows at RO-HU and RS-HU
• MER (Fyrom)
• New Interconnector GR-Fyrom
Project Status Update and Next Steps
Licensing in place
FEED study completed
EPC tenders progressing well
Exemption Application in place (in line with Article 36 of Directive 73/2009 - 3rd Energy Package -)
First Phase of Market Test successfully completed on 31 December 2018
20 companies submitted relevant EoI for a total regas capacity reservation of up to 12.2 billion cubic meters/annum
GasLog, one of the largest LNG carrier owners and operators, listed in the NYSE, has acquired 20% of Gastrade
DEPA and the Bulgarian State, through Bulgartransgaz, to become shareholders in Gastrade and reserve capacity at the Terminal
3. The two sections of the natural gas pipeline transmission system, i.e.:• The subsea section of total length 24 km• The onshore section of total length 4 km and the M/R station
connecting the offshore terminal to the Greek National Gas Grid (NNGS)
2. The permanent offshore structures, including:• The Mooring system• The Flex Risers and the Pipeline End Manifold (PLEM),
transmitting gas from the floating unit to the subsea pipelines
Financing structure comprises Equity, Debt and Grants
The project is a PCI (Project of Common Interest, E.C. 1391/2013) and therefore eligible for grantsfor
studies under CEF (Connecting Europe Facility)
The project is included in the major projects list of the 2014-2020 National Strategic Reference
Framework (ESPA) projects which allows for state aid from National and EU funds
Project financing (non-recourse) with IFIs and commercial banks to entail long tenor and competitive
interest rate• Export financing schemes available from equipment suppliers
Project Investment and Financing
Total Investment: € 382 mil
Base Financing Structure
Subsidy applied through Greek Public Investment Programme and (ERDF)
Debt secured by major Greek bank on a non-recourse basis
Equity shareholders
Project Milestone Plan
Exemption Application 2Q2018
EPCI Tender launched 3Q2018
Market Test Launched 4Q2018
NSRF Grant Application submitted 1Q2019
FID mid 2019
FSRU delivery from yard 1H 2021
Commercial Start 2021
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