Decision on second FSRU in Dedeağaç expected in 2026

A final decision on the construction of a second floating storage and regasification unit (FSRU) for liquefied natural gas (LNG) in Dedeağaç (Dedeağaç) is expected to be made in 2026, according to statements by Dimitris Kopelouzos, Chairman and CEO of the Kopelouzos Group. The decision will be taken by Gastrade, the company developing the project.

The project, referred to as “Thrace FSRU,” aims to establish a second LNG entry point in the region, in addition to the already operational Dedeağaç FSRU. If a positive investment decision is made, the new facility is planned to become operational in 2028, with construction and commissioning expected to take approximately two years.

The main uncertainty surrounding the project is its high investment cost. While the first FSRU required an investment of around €490 million, the cost of the second unit is estimated to be at least €650 million. Unlike the first project, no grants or favorable financing mechanisms are expected to be available, which could increase usage tariffs and limit the project’s competitiveness.

The investment decision will depend on market demand, the cost of transporting LNG to Europe, and the securing of long-term capacity booking contracts. In order to reduce the financial burden, the option of involving international investors in the project is also being considered.

As for the existing Dedeağaç FSRU, it is expected to receive around 20 LNG cargoes this year, with the number projected to rise to 40 cargoes next year. Plans are also underway to increase the unit’s annual capacity to 6–6.5 billion cubic meters, through the installation of additional equipment.