Bulgarian state energy holding company BEH and Greek natural gas company Gastrade have launched a joint task force to work on a proposal to build an off-shore liquefied natural gas (LNG) terminal in northern Greece, Gastrade said as Reuters reported. The terminal is expected to cost about $413m and is expected to be operational at the end of 2018.

Greece currently has one LNG terminal on an islet off Athens and Gastrade, part of Greek energy group Copelouzos, is planning a second LNG terminal near the northern city of Alexandroupolis.

The facility, with an estimated annual capacity of 6.1 bbcm, will seek to supply gas to southeastern Europe via another natural gas pipeline scheme that will cross through Greece, the Interconnector Greece-Bulgaria (IGB). Bulgaria and Greece signed the final investment agreement for the pipeline last year, Ekathimerini wrote.