The EU approves support for the construction of an LNG terminal in Greece

The European Union (EU) approved Greece’s financial support of €106 million for the liquefied natural gas (LNG) terminal built in Alexandroupolis.

The EU Commission announced that the financial support program prepared by Greece for the completion of the LNG terminal was accepted.

The statement states that the €106 million resource prepared for the completion of the LNG terminal in Alexandroupolis by the end of 2023 was found to be compatible with EU public aid rules and that the aid in question would be adopted of a direct subsidy.

IT IS EXPECTED TO BE COMPLETED BY THE END OF THE YEAR

The statement noted that the support was deemed necessary and appropriate for the project to continue as planned, and that the terminal would contribute to the strategic goals of diversifying energy sources and ending dependence on Russian fossil fuels.

The authority to determine how EU member states will provide public support falls within the jurisdiction of the EU Commission.

Member countries can use public contributions only in cases that do not harm competition and are in the public interest.

Greece launched the floating LNG gasification and storage unit project in Dedeağaç in May last year.

The project, which is expected to supply approximately 5.5 billion cubic meters of natural gas to the country’s distribution system annually, is expected to be completed by the end of this year. (AA)