Cooperation between DEPA, BEH and GASTRADE to promote the commercial operation of the “LNG Terminal in Northern Greece” in Alexandroupolis

In the context of the trilateral meeting between DEPA S.A., the Bulgarian Energy Holding EAD (BEH) and GASTRADE S.A., the Managing Director of DEPA, Mr. Dimitris Tzortzis and the Managing Director of GASTRADE, Mr. Konstantinos Spyropoulos, have reached yesterday in Athens agreement regarding the future capacity reservation by DEPA to the Project of Common Interest “LNG Terminal in Northern Greece” developed by GASTRADE in Alexandroupolis as well as for DEPA’s participation in the relevant market test that will be carried out in the coming months.

This is a follow-up to the cooperation agreement signed by the two parties for the participation of DEPA in the share capital of GASTRADE, which is expected to be completed soon, as well as for the joint efforts of the parties for further commercial development of the Project.

At the same time, following to the meeting of the Energy Ministers of Greece and Bulgaria, Messrs. Stathakis and Petkova, in Sofia on 18-04-2018, the Bulgarian side confirmed its intention to speed up the respective negotiations for the completion of its own participation in the Project

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GASTRADE S.A. is a Greek company that studies, designs, constructs, manages and operates gas infrastructure. GASTRADE develops the Independent Natural Gas System (INGS) “LNG Terminal in Northern Greece” in Alexandroupolis, for which all required licensing has been completed in order to begin its construction.

The Project will ensure new gas quantities to supply the Greek and regional markets of Southeastern Europe, contributing at the same time to the expansion of gas supply sources and routes, the promotion of competition for the benefit of the final consumers, security of supply in Greece and the Balkan countries as well as to improve the reliability and flexibility of the National Natural Gas System as well as of the regional and trans-European systems.

On February 9, 2017 GasLog Ltd., announced that it had acquired a 20% shareholding in Gastrade.

GasLog Ltd. (NYSE: GLOG) is an international owner, operator and manager of LNG carriers providing support to international energy companies as part of their LNG logistics chain. GasLog’s consolidated owned fleet consists of 29 LNG carriers (25 ships on the water and four on order).

DEPA S.A. with its long presence in the Greek gas market is a modern and competitive group of companies with a dynamic presence in the energy sector. DEPA promotes the development of strategic infrastructure for the supply of gas from diversified sources and routes at competitive prices, with a view to taking a leading role in the markets of the wider region of Southeastern Europe.

Bulgarian Energy Holding EAD (BEH) is the holding company for a group of companies which are principally engaged in electricity generation, supply and transmission, natural gas transmission, supply and storage and coal mining. BEH Group holds a leading position in the electricity and gas market in Bulgaria and, through electricity exports, in the Balkans. BEH is wholly owned by the Bulgarian state and is the largest state-owned company in terms of total assets in the country. The rights of ownership of the state are exercised by the Minister of Energy.