Greece and Bulgaria said a new liquefied natural gas (LNG) plant to be built off the northern Greek port of Alexandroupoli would help create a new gas route to Europe and cut reliance on Russian gas at a critical time, Reuters reported.

Greek Prime Minister Kyriakos Mitsotakis noted at an event marking the start of construction of the floating storage and regasification unit (FSRU) in Alexandroupoli that Moscow's recent blackmail over natural gas makes this cooperation not only necessary but urgent.

The ceremony was attended by European Council President Charles Michel and the leaders of Bulgaria, Serbia and North Macedonia.

Greece has been supplying Bulgaria with gas since Russia cut it off.

The new FSRU, which will be anchored about 18 km from the port of Alexandroupolis and will bring gas to shore via a 28 km pipeline, is expected to start operating at the end of 2023. It will be able to regasify 5.5 billion cubic meters of LNG annually and store 153,500 cubic meters.

Greece has one LNG terminal outside of Athens. With a new terminal at Alexandroupoli and other projects under development, it could triple its regasification capacity by the end of 2023, Mitsotakis said.