A second LNG terminal in Greece – does it make sense?

The first (non-binding) market test for Gastrade’s proposed floating LNG terminal in northern Greece drew capacity bids of 12.2bcm per year, more than twice its planned technical capacity.

The project aims to promote diversified supplies, and increase energy security and competition in the Greek and regional southe-eastern European market. Gastrade is partly owned by GasLog Ltd. (NYSE: GLOG) and DEPA S.a. (the public gas company of Greece).

Can the project live up to expectations?