On Monday, 24 August, the prime ministers of Bulgaria and Greece signed an agreement for the entrance of the Bulgarian national gas transmission operator Bulgartransgaz EAD as a shareholder in the project for a liquefied natural gas terminal near Alexandroupolis, Greece. Bulgartransgaz EAD acquired 20% of the capital of the Greek project company Gastrade S.A. – developer of the floating LNG terminal. The acquisition is an important strategic step towards implementing the concept of the Balkan Gas Hub, which would connect the natural gas markets in the CEE region and promote transparency, diversification and security of gas supplies. The Alexandroupolis LNG terminal is identified as a a Project of Common Interest by the European Commission and is expected to begin operations in 2022.
Kambourov & Partners advised Bulgartransgaz EAD on the acquisition of the 20% share in Gastrade S.A.