Gastrade
Gastrade operates the Alexandroupolis offshore LNG terminal (FSRU) in Greece, delivering regasification, storage, and capacity exchange services to utilities, transmission operators, and gas traders across Greece and seven Southeast and Central European markets via the Vertical Gas Corridor.
- Company typePrivate
- Founded2010
- HeadquartersAthens, Greece
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Gastrade does
Gastrade S.A. is a Greek energy infrastructure company that develops and operates the Alexandroupolis Independent Natural Gas System (INGS), an offshore Floating Storage and Regasification Unit (FSRU) terminal positioned 17.6 km southwest of Alexandroupolis harbor in the Sea of Thrace. The system centers on the FSRU ALEXANDROUPOLIS — a vessel with 170,000 m³ of LNG storage capacity — connected to the Greek National Natural Gas Transmission System via a 28 km pipeline (24 km subsea and 4 km onshore). It carries a sustainable annual send-out capacity of 6.1 bcm and a maximum regasification capacity of 136.2 GWh/day as of October 2025, with capacity actively scaled up through 2025. Commercial operations began on October 1, 2024.
The company monetizes LNG terminal services — berthing/unberthing, regasification, LNG storage, and capacity exchange — under usage-based tariffs combined with long-term capacity reservation agreements (Terminal Use Agreements). Pricing is quote-based, not publicly disclosed, and billed under multi-year contracts to a B2B enterprise customer base of national gas utilities, transmission system operators, and gas traders. Its three named shareholders, each holding 20%, include GasLog Ltd (NYSE-listed LNG carrier operator), DESFA (the Hellenic Natural Gas Transmission System Operator), and Bulgartransgaz (Bulgaria's national transmission operator) — making two of its largest counterparties also direct equity holders. The company pursues geographic expansion through the Vertical Gas Corridor initiative, which uses the terminal as a gateway into 7 active markets (Greece, Bulgaria, Romania, Hungary, Slovakia, Moldova, Ukraine) and 2 in-progress extensions (North Macedonia, Serbia).
Gastrade is developing Thrace INGS, a second FSRU-based INGS in the same Sea of Thrace location, with an active license application at RAE since March 2022. The asset carries European Project of Common Interest status (included in 2013 and re-confirmed in 2015) and CESEC priority project classification (2015), with more than €272 million in EU and Greek State support underwriting construction. Headcount is small (11-50 employees), consistent with a capital-intensive asset operator that outsources engineering and marine operations to partners. The company is headquartered in Maroussi, Athens, with operations anchored in Alexandroupolis.
Gastrade firmographics
Firmographics- Name
- Gastrade
- Legal name
- GASTRADE Α.Ε.
- Website
- https://gastrade.gr
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Gastrade operates the Alexandroupolis offshore LNG terminal (FSRU) in Greece, delivering regasification, storage, and capacity exchange services to utilities, transmission operators, and gas traders across Greece and seven Southeast and Central European markets via the Vertical Gas Corridor.
- Ownership category
- akta.pro rank
Gastrade industry classification
Industry- Product category
- LNG Terminal Infrastructure Services
- NAICS
- Pipeline Transportation of Natural Gas (48621)
- SIC
- Natural Gas Transmisison & Distribution (4923)
- akta.pro primary industry
- LNG Regasification Terminals (Onshore & FSRU) (EUALAFAB)
- akta.pro secondary industry
- LNG Regasification & Import Terminals (EUAAACAF)
Keywords
Where Gastrade is headquartered
LocationHeadquarters
- HQ city
- Athens
- HQ country
- Greece
- HQ region
- Europe
Offices2 records
Markets served
Gastrade business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D
Revenue model
- LNG Terminal Services: Revenue generated from LNG terminal operations including berthing/unberthing services, regasification service, LNG storage, and capacity exchange. Services provided to terminal users including energy companies, gas traders, and utilities across Southeast and Central Europe.
- Regasification Capacity: Long-term regasification capacity products offered from Commercial Operation Date (COD). Terminal users reserve capacity under standard Terminal Use Agreements.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Multi-year contract | Terminal services pricing available upon request for qualified LNG terminal users |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Gastrade product offering
Product offeringCore offering
Gastrade operates the Alexandroupolis Independent Natural Gas System (INGS), a floating storage regasification unit (FSRU) that receives LNG carriers, stores LNG, and regasifies it into natural gas for transmission via interconnecting pipelines to regional markets in Southeast Europe. The terminal provides regasification capacity, storage, and ancillary marine services to LNG shippers, gas utilities, and traders.
Product overview
Gastrade operates the Alexandroupolis LNG Terminal, an offshore Independent Natural Gas System (INGS) comprising the FSRU ALEXANDROUPOLIS floating storage and regasification unit. The system includes pipeline infrastructure connecting to the Greek National Natural Gas Transmission System. Core services offered include regasification, LNG storage, berthing/unberthing, and capacity exchange. The terminal is operational (commercial operations began October 2024) and currently serves markets across Greece, Southeast and Central Europe. A second project, Thrace INGS, is in planning stages. Terminal users access services through the TUTPS platform.
Differentiator
Problem solved
Functional benefit
Brands
- Alexandroupolis LNG Terminal: Floating Storage and Regasification Unit (FSRU) LNG terminal providing regasification, storage, and capacity exchange services for natural gas supply to Southeast and Central Europe.
- FSRU Alexandroupolis
Products and services
- Alexandroupolis LNG Terminal (INGS / FSRU) Floating Storage Regasification Unit located offshore Alexandroupolis, Greece, providing mooring for LNG carriers, on-board LNG storage, and regasification of LNG into natural gas for delivery into the Greek and regional gas transmission grid. Sold as long-term regasification capacity to LNG shippers, utilities, and gas traders.
- Regasification Service On-board regasification of LNG delivered by customers' LNG carriers, converting it back into gaseous natural gas at specified send-out pressure for entry into the national gas transmission system.
- LNG Storage Capacity Floating LNG storage capacity on the FSRU, allowing customers to hold LNG volumes aboard the vessel between cargo arrivals and send-out, decoupling shipping from offtake schedules.
- Berthing and Unberthing Service Marine services including vessel berthing, mooring, and unberthing of LNG carriers at the FSRU, including support tugs and navigation aids for safe cargo transfer.
- Capacity Exchange / Secondary Capacity Release Mechanism that allows primary capacity holders to transfer, trade, or release their contracted regasification slots to other market participants, supporting efficient use of terminal capacity.
Quantifiable outcome
- 6.1 bcm annual gas send-out capacity
- +4 more outcomes
Companies that use Gastrade
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles2 records
Gastrade technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Gastrade partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered minor, core and strategic.
- SenflugaminorJoint CSR initiative with DESFA and Senfluga totaling €330,000 donation to Alexandroupolis municipality for civil protection vehicles and school infrastructure upgrades.
- Slovakia, Moldova, UkrainecoreMemorandum of Understanding signed at CESEC Ministerial Conference to strengthen Vertical Corridor cooperation. Enables gas transportation to Slovakia, Moldova, and Ukraine through Alexandroupolis LNG Terminal, enhancing Central and Southeast Europe security of supply.
- NER AD (North Macedonia)minorNational Energy Resources AD from North Macedonia signed cooperation agreements for access to Alexandroupolis LNG Terminal, enabling diversified gas supply to the country.
- AD ESM (North Macedonia)minorAD Power Plants of Northern Macedonia signed cooperation agreements for access to LNG Terminal, supporting energy supply diversification for the region.
- DEPA S.A.strategicGreek gas company DEPA agreed to future capacity reservation and participation in market test. DEPA promotes development of strategic infrastructure for gas supply from diversified sources in Southeast Europe.
- Wood Group Kenny IrelandstrategicAwarded FEED (Front-End Engineering Design) study contract. Wood Group Kenny Ireland LTD completed six-month FEED defining technical parameters for FSRU, subsea installations, and pipeline system. Study was 50% CEF-funded.
- Bulgarian Energy Holding (BEH)strategicJoint task force established with BEH to study Bulgaria's participation in the LNG project. BEH is Bulgarian state-owned holding for electricity generation, gas transmission, and storage.
Scale indicators13 records
Recent moves6 records
Expansion highlights6 records
Gastrade competitors and assessment
Company assessmentDirect peers
- DESFA: Hellenic Natural Gas System Operator and 20% shareholder of Gastrade; operates the Greek NNGS to which Gastrade's FSRU directly connects, making DESFA the most directly comparable gas infrastructure operator in the same value chain.
- Excelerate Energy: US-listed FSRU developer and operator with ~12 FSRUs globally; comparable as a vertically integrated FSRU business offering regasification services to utilities and governments on long-term contracts.
- GasLog Ltd: NYSE-listed LNG carrier owner/operator and 20% shareholder of Gastrade; provides LNG maritime logistics expertise and brings comparable exposure to LNG shipping demand driven by the same European import dynamics that underpin Gastrade's terminal.
- Höegh LNG: Global FSRU owner and operator with a fleet serving markets including Germany, Lithuania, and Chile; closest pure-play FSRU peer for technology, business model, and counterparty profile.
- DEPA S.A. Greek national gas utility and trading company that has signed cooperation and capacity reservation agreements with Gastrade; directly comparable as a counterparty buyer of regasification services in the same Greek market.
- Bulgartransgaz: Bulgarian TSO and 20% shareholder of Gastrade; operates the gas transmission system including the IGB interconnector that carries Gastrade's regasified volumes into Bulgaria and onward to Central Europe.
Broad incumbents
- Fluxys: Belgian gas infrastructure operator with LNG terminal capacity at Zeebrugge; comparable as a Northwest European LNG-to-pipeline operator with similar regasification business model.
- Snam: Italian gas infrastructure operator that has developed FSRU capacity at Piombino and Ravenna; a broader incumbent offering regasification alongside the full European gas transmission network.
- Enagás: Spanish TSO and LNG terminal system operator; relevant incumbent peer with established onshore LNG regasification assets serving broader Mediterranean and European gas demand.
Emerging players
- New Fortress Energy: US-listed developer of FSRU-based LNG import and gas-to-power projects globally; comparable as an FSRU-deploying counterparty to similar utility and government buyers in emerging LNG import markets.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Gastrade social profiles
Digital presenceGastrade compliance and trust
Trust signalCompliance2 records
Gastrade financial estimates
Financial estimateRevenue estimate
Valuation estimate
Gastrade leadership team
Management profileNumber of profiles
Profiles2 records
Gastrade funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Gastrade M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Gastrade
What does Gastrade do?
Gastrade operates the Alexandroupolis Independent Natural Gas System (INGS), a floating storage regasification unit (FSRU) that receives LNG carriers, stores LNG, and regasifies it into natural gas for transmission via interconnecting pipelines to regional markets in Southeast Europe. The terminal provides regasification capacity, storage, and ancillary marine services to LNG shippers, gas utilities, and traders.
Is Gastrade a public or private company?
Gastrade is a private company. It is classified as unknown and is currently operating.
When was Gastrade founded?
Gastrade was founded in 2010. It employs 11 to 50 people.
Where is Gastrade based?
Gastrade is headquartered in Athens, Greece, in the Europe region.
How does Gastrade make money?
Two revenue lines are on record. LNG Terminal Services are the primary driver. The others are regasification Capacity.
Who are Gastrade's main competitors?
Direct peers on record are DESFA, Excelerate Energy, GasLog Ltd, Höegh LNG, DEPA S.A. and Bulgartransgaz. Broad incumbents are Fluxys, Snam and Enagás. New Fortress Energy is listed as an emerging player.
Does Gastrade have an API?
No public API is recorded for Gastrade.
What industry is Gastrade in?
Gastrade's product category is LNG Terminal Infrastructure Services. Its primary akta.pro industry code is EUALAFAB, LNG Regasification Terminals (Onshore & FSRU), with a secondary code of EUAAACAF, LNG Regasification & Import Terminals. Its NAICS code is 48621 and its SIC code is 4923.