By doubling LNG and through strategic agreements, Greece is strengthening its role as a key energy hub for Central Europe and transatlantic cooperation.
At a time of intense realignment of European energy balances and increased geopolitical uncertainty, Greece is decisively upgrading its position on the natural gas map, by leveraging LNG infrastructure and the new cross-border energy flows that are taking shape through the Vertical Corridor. The strategic public-private partnership, combined with the strengthening of long-term and short-term supply contracts, creates a new framework for energy security for Southeast and Central Europe, positioning the country as a key gateway for the import and transit of LNG to the European hinterland.
Its strategy to expand its operations into the markets of Southeast and Central Europe, capitalizing on the new opportunities created by the Vertical Corridor and the doubling of LNG volumes secured from Venture Global, as presented by the management of ATLANTIC SEE LNG TRADE during the event titled “Greece-US Alliance for Energy Security,” which took place in Athens.
At the event, opening remarks were delivered by the Minister of Environment and Energy Stavros Papastavrou and the U.S. Ambassador to Greece, Kimberly Guilfoyle, while the keynote speakers were the president of ATLANTIC SEE LNG TRADE and CEO of DEPA Trading, Konstantinos Xifaras and the CEO of ATLANTIC SEE LNG TRADE and Chairman and CEO of the AKTOR Group, Alexandros Exarchou.
New commercial agreements and expansion into regional markets
The company’s management announced that ATLANTIC SEE LNG TRADE will seek to conclude short-term LNG supply and trading agreements before 2030, the year in which the long-term supply contracts it has already secured are set to take effect.
Mr. Xifaras emphasized that Europe is entering a period of increased challenges in securing natural gas supplies, as the shift away from Russian supplies progresses and pressures on international LNG markets intensify. In this environment, ATLANTIC SEE LNG TRADE intends to capitalize on new commercial opportunities and strengthen its presence in the region’s markets.
At the same time, the company is in ongoing discussions with countries along the Vertical Corridor to establish new partnerships.
Mr. Exarchou noted that the Memoranda of Understanding signed with Ukraine, Bulgaria, and Romania are expected to evolve into definitive agreements by the end of the year.
A milestone: the doubling of the agreement with Venture Global
Particular emphasis was placed on the recent extension of the agreement between ATLANTIC SEE LNG TRADE and Venture Global, through which the secured LNG volumes are doubled to 1 million metric tons per year for a period of 20 years.
The company’s management emphasized that this success takes on even greater significance when considering the intense international competition to secure long-term LNG volumes. At the same time, it stressed that Greece, thanks to its strategic energy infrastructure, has already demonstrated in practice that it can make a decisive contribution to the region’s energy security.
Security of supply takes on a new dimension
Referring to the latest geopolitical developments, Mr. Xifaras pointed out that the war in the Middle East and the temporary suspension of shipping through the Strait of Hormuz served as a stark reminder that energy security can nobe taken for granted anymore.
As he emphasized, Greece is a safe and reliable energy gateway for Europe, while Greek infrastructure provides the capacity to import and transport natural gas even during periods of heightened international uncertainty.
The management of ATLANTIC SEE LNG TRADE assessed that challenges in the European natural gas market will remain intense next winter, making it even more important to secure long-term and reliable sources of supply.
Expansion Prospects and New Partnerships
During the discussion, it was also noted that the U.S. Development Finance Corporation (DFC) could play a role in the future in providing financial support for projects related to the Vertical Corridor, depending on the progress of trade agreements and the necessary infrastructure.
Papastavrou: The Vertical Corridor is a strategic choice for Europe
Minister of Environment and Energy Stavros Papastavrou emphasized that energy security is a matter of national and European sovereignty and not merely an economic issue. He referred to the Greek government’s initiatives to activate the Vertical Corridor and noted that the new capacity auction rules will allow for the creation of cross-border products and the expansion of thecorridor toward Hungary, Slovakia, and the Western Balkans.
The minister emphasized that Greece now plays a central role in the region’s new energy architecture and congratulated the management of Atlantic SEE LNG Trade for its persistence in successfullythe challenges of the project.
Guilfoyle: “Energy security is becoming a reality”
The U.S. Ambassador to Greece, Kimberly Guilfoyle, described the agreement with Venture Global as a milestone for transatlantic cooperation and emphasized that it is not merely a business deal, but energy security in action. It is important for Greece, as it further strengthens its role as an energy hub. It is important for the United States, as well as for all of Central and Eastern Europe, as it offers more options, greater resilience, and stronger energy independence to the countries in the region.
A New Energy Architecture for Europe
A common conclusion of the event was that deepening transatlantic cooperation and the development of the Vertical Corridor are creating a new strategic reality for Europe.
Greece, by leveraging its infrastructure, geographic location, and international partnerships, is emerging as a key gateway for LNG and a critical factor for energy security and the diversification of supply sources for Southeastern and Central Europe.
