The Republic of North Macedonia will be part of project for construction of terminal for liquid natural gas of 17 km from Alexandroupolis for gasification of liquid natural gas and storage with a capacity of 5.5 billion cubic meters, PM Zoran Zaev said at Wednesday’s press conference on signing of memorandums for realization of projects liquefied natural gas (LNG) terminal in the Greek port city of Alexandroupolis, supply of capacity of natural gas and Alexandroupolis gas power plant.

North Macedonia participates with 25% in the Alexandroupolis gas power plant with an installed capacity of approximately 800 MW. The estimated investment in this gas power plant is over EUR 380 million. In the investment in the LNG terminal, it is foreseen to have 10% participation with a value of EUR 370 million supported by the EU. The plan is gas power plant and LNG terminal to be put into operation by 2030, Zaev said.

Memorandum of cooperation between NER AD Skopje and Copelouzos Group, and a memorandum of cooperation between AD ESM and Gastrade S.A. for lease of capacity in the LNG terminal, as well as a memorandum of cooperation between AD ESM and Damco Energy SA to acquire a 25% stake in Alexandroupolis Electricity Production S.A, have been signed today.

“Our inclusion in construction of LNG terminal in Greece will create possibility for sustainable, stable and continuous supply of natural gas in the country, from where the gas will be distributed further on in the region,” Zaev said.

The event of signing memorandums was attended by CEO of Copelouzos Group Christos Copelouzos, Gastrade’s chief executive Costis Sifneos, representatives of the US Embassy, as well as the Deputy PM for Economic Affairs Fatmir Bytyqi, Minister of Economy Kreshnik Bekteshi, NER AD director Bajram Rexhepi and Chairman of Board of Directors and General Manager CEO of North Macedonia’s power utility AD ESM Vasko Kovachevski.