Alexandroupolis Port Launches LNG Hub: Transforming Southeast Europe’s Energy Landscape

The port of Alexandroupolis in Greece has welcomed a regasification vessel, also named Alexandroupolis, converted into a floating liquefied gas storage and regasification plant. This terminal, operational from December 17, 2023, aims to pump 5.5 billion cubic meters of gas into the Greek network annually. While partly serving the Greek market, its primary purpose is to export to Southeast European countries, reducing dependence on Gazprom and Russia.

The Interconnector Greece-Bulgaria (IGB) pipeline project, supported by the European Union, began operations in October 2022. The Vertical Corridor initiative, supported by various EU nations, gained traction, aiming to supply the Balkan Peninsula, Hungary, and Austria. On January 19, 2024, Slovakia, Moldova, and Ukraine joined the project, enabling Ukraine to be both a consumer and a transit country for gas from Alexandroupolis to Central Europe.

Ukraine will also offer gas storage services to the Vertical Corridor participants. The group’s immediate goal is to identify infrastructure expansion points by July. Another regasification vessel, Thrace, is planned to be commissioned east of Alexandroupolis in 2025, exporting most of its 11 billion cubic meters of annual gas capacity to countries like Bulgaria, Serbia, North Macedonia, Romania, and potentially Hungary.