The first phase of the Market Test for the reservation of regasification capacity at the floating LNG Terminal in Alexandroupolis, which is being developed by the Greek utility GASTRADE S.A., was completed with great success on 31 December 2018.

Twenty companies submitted relevant Expression of Interest for a total of up to 12.2 billion cubic meters / year of regasification capacity reservation at the floating terminal and delivery to the Greek National Natural Gas Transmission System. These gas quantities will be directed towards the markets of the wider Southeastern European region. The Expression of Interest surpassed the technical capacity of the project which is designed at 5.5 bcm/ year.

Companies that have expressed interest in the Market Test cover a wide range of geography. Apart from the SEE region, a large part of the major international gas traders also expressed interest in the project.

"The highly successful outcome of the first phase of the Market Test and the great interest expressed for the Alexandroupolis LNG project by many important regional and international gas players is an essential step for the implementation of the project and ultimately for the upgrade of the energy position and the energy supply diversification of Greece, Bulgaria and the SE Europe as a whole" said Mr. Konstantinos Spyropoulos, Managing Director of GASTRADE.

The process of the first phase of the Market Test was initiated on 30 October 2018 and was conducted under the guidance and supervision of the Regulatory Authority for Energy of Greece (RAE) and in accordance with the Guidelines for Management and Allocation of Capacity approved by RAE in line with the provisions of paragraph 6 of Article 36 of the European Directive 2009/73/EC.

The Project will proceed to the next Binding Phase of the Market Test, once the relevant new Guidelines and Notice to the companies that will participate in this next phase are approved by RAE.