EU approves support for Greece's LNG terminal construction
The EU Commission announced that Greece's financial support programme for the completion of the LNG terminal has been approved.
In the statement, it was stated that the 106 million euro resource prepared for the completion of the LNG terminal in Alexandroupoli by the end of 2023 is in line with the EU public support rules and that the aid in question will be in the form of direct grants.
The statement said that the support was deemed necessary and appropriate for the project to proceed as planned and that the terminal would contribute to the strategic goals of diversifying energy sources and ending dependence on Russian fossil fuels.
The Commission is authorised to determine how EU Member States provide public subsidies.
Member states may only use public contributions in a non-competitive manner and in the public interest.
Greece launched the floating LNG storage and gasification unit project in Alexandroupoli in May last year.
The project, which is expected to supply approximately 5.5 billion cubic metres of natural gas annually to the country's distribution system, is planned to be completed by the end of this year.
