Wood Wins Greek FSRU Study Deal
Tuesday 27 June 2017
Greek player Gastrade is reviving plans for a liquefied natural gas terminal in the north of the country, handing Wood Group a front-end engineering and design contract for a floater.
Aberdeen-based Wood will work on the proposed Alexandroupolis Independent Natural Gas System, which looks set to use a floating storage and regasification unit.
Wood said a final investment decision is set to be made by operator Gastrade, a subsidiary of Greece’s Copelouzos Group , late this year. Gastrade said the Wood study is due to wrap up in the third quarter.
Wood will work on providing the engineering definition of the Alexandroupolis FSRU and its subsystems. Wood said the Gastrade project “will create a new natural gas gateway to the markets of south eastern and central Europe”.
Gastrade had in 2012 been scouring the market for an floater to develop the LNG project off Alexandroupoli in the north-west corner of Greece to target Balkan markets.
At that time an FID was eyed in late 2012, with operations set to start in 2015.
The FSRU under the original plan was to connect to shore via a 25-kilometre subsea pipeline. The first phase was to have a capacity of 2.6 billion cubic metres per annum with potential expansion to 5 Bcm.