Thrace FSRU

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Thrace FSRU Terminal is a proposed floating storage regasification unit (FSRU) terminal for LNG import in the Aegean Sea, off the coast of Greece.

Location

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Project Details

• Owner: Gastrade
• Parent company: Elmina Copelouzou (20%), GasLog Cyprus Investments (20%), DEPA Commercial (20%), Bulgartransgaz (20%) and DESFA (20%)
• Location:
• Coordinates: 40.748354, 25.718754 (approximate)
• Capacity: 6 bcm/y, 4.4 mtpa
  • Formerly 5.5 bcm/y
• Cost:
• Financing:
• Status: Proposed
• Type: Import
• FID Status:
• Start Year: 2024

Note: mtpa = million tonnes per year; bcfd = billion cubic feet per day; bcm/y = billion cubic meters per year

Background

In March 2022, Gastrade announced it was planning to install a second floating storage and regasification unit (FSRU) located in the Thracian Sea, offshore Alexandroupolis, and had submitted an application for a new independent natural gas system (INGS) license to the Regulatory Authority for Energy of Greece. Gastrade had already obtained an INGS license for the neighbouring Alexandroupolis LNG Terminal, and took a final investment decision (FID) for that project in January 2022. The Thrace FSRU would be able to deliver up to a maximum of 22.7 million cubic meters per day, or 5.5 bcm/y, the consortium said. The capacity was later reported as 6 bcm/y by the Updated TYNDP 2022 list of projects, published in October 2022, and an S&P Global article published in December 2023.

In March 2024, the technical director of Alexandroupolis FSRU spoke at the Forum East Macedonia & Thrace Forum ΙΙ and left open the possibility of a second FSRU operating in the Thrace region.

The project was listed in Gas Infrastructure Europe's LNG Import Terminals Database published February 2024, and ENTSOG's 2024 Ten Year Network Development Plan last published June 2025.