DEPA to buy equity stake in Gastrade

DEPA, the Public Gas Corporation of Greece, will participate in a project to build an LNG terminal in Alexandroupoli.

DEPA’s CEO Theodore Kitsakos and Gastrade SA CEO Constantinos Spyropoulos signed a partnership agreement on Thursday to include DEPA in the project developed by Gastrade in the city of Alexandropouli. The agreement envisages the next steps towards DEPA’s participation in Gastrade’s equity capital and the joint efforts of the sides to further promote the commercial development of the project. According to sources, DEPA will purchase a 20 pct stake in Gastrade’s equity capital.

Gaslog Ltd acquired a 20 pct stake in Gastrade’s equity stake in a deal signed in February 2017. Gaslog Ltd is one of the largest shipping companies in the world, with a fleet of 27 LNG vessels.

The LNG terminal in Alexandroupoli will safeguard new natural gas supply for the Greek market and the regional Southeast European markets, expanding supply sources and natural gas routes.