Wood Group has secured a new FEED contract with Gastrade SA for the Alexandroupolis Independent Natural Gas System (INGS) offshore Greece, the Aberdeen, U.K.-based company said June 27.

The project, to develop a floating LNG receiving, storage and regasification unit (FSRU), will create a new natural gas gateway to the markets of southeastern and central Europe, according to the company press release.

Wood Group’s subsea team will perform the design and engineering definition of the Alexandroupolis FSRU and its subsystems which will support the final investment decision for the project, planned for late 2017.

Bob MacDonald, CEO of Wood Group’s Specialist Technical Solutions business, comments: “This contract brings our global expertise and technical solutions to a new client and we look forward to working with Gastrade SA as the main engineering contractor for developing this FEED.

“Our subsea capabilities combined with the engineering proficiency of our people and cost-effective technical solutions, position us well to deliver this milestone European project.”