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Port of Alexandroupoli eyed as LNG hub

Image: Google Maps Port of Alexandroupoli
Greece’s northeastern Aegean Sea port of Alexandroupoli is being seen as of strategic importance for development into an LNG hub for central and eastern Europe.

Greece’s asset utilisation agency Taiped is in the process of selling a 67% stake in the port as a prelude to its development.  

On 22 September Taiped announced it had received two binding bids for the majority stake. The bidders were Houston-based Quintana Infrastructure and Development through Liberty Port Holdings Single Member, and International Port Investments Alexandroupolis, a joint venture comprising US-based Black Summit Financial Group, Belgium’s Euroports, and Greece’s EFA Group and GEK Terna. The bidders were among four investors that had been shortlisted last year for the sale.

The importance of the port of Alexandroupoli for peace and stability in Southeast Europe and East Mediterranean regions, and for the economic growth of Greece due to its geostrategic location, was highlighted during the recent 96th Annual Convention and Conference of the International Propeller Club of the United States which was held in Athens.

"An unprovoked war in Ukraine continues to disrupt global shipping and as a result, it is no secret that the geostrategic importance of Greece has been elevated significantly," said George James Tsunis, US Ambassador to Greece.

Ioannis Plakiotakis, Greek minister of Shipping and Island Policy, highlighted the role of Greek ports as home to new LNG infrastructure to help Europe overcome the energy crunch.

Plakiotakis said: "When it comes to LNG, the major role of the Greek fleet in both LNG transportation, not least from the US these days, as well as in storage through FSRUs as part of the EU energy independence, both in Greece and other EU countries, is widely recognised, alongside the strategic importance of our ports shipping."

He said: “Construction and operation of the Alexandroupolis FSRU is expected to strengthen the strategic role of Greece as an energy hub for the wider region of Southeastern Europe and will offer alternative sources and gas supply routes to the region, enhancing energy security of supply and energy autonomy, during challenging times."