December 31 (SeeNews) - North Macedonia will take a 10% stake in the project for the construction of a floating liquefied natural gas (LNG) terminal off the coastal city of Alexandroupolis in Greece, investing between 6.5 million euro ($8 million) and 7.5 million euro, North Macedonia's prime minister Zoran Zaev said.
In addition, North Macedonia will buy a 25% stake in a gas-power plant that will be built near Alexandroupolis, the prime minister told parliament on Wednesday.
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The LNG terminal in Alexandroupolis, which is expected to become operational in early 2023, is planned to comprise an LNG floating storage and regasification unit (FSRU), which will be a new, independent energy gateway for the markets of Southeastern and Central Europe. The station will have an LNG storage capacity of 170,000 cubic meters and a natural gas supply capacity that will exceed 5.5 billion cubic meters per year.
Zaev added on Wednesday that the country expects to start at the beginning of 2021 the construction of a North Macedonia-Greece interconnector that will ensure supply of gas from Greece.
North Macedonia has secured a 14 million euro grant through the Western Balkans Investment Framework for the project worth 54 million euro, the prime minister also said.
($ = 0.8129 euro)