{"id":4832,"date":"2026-05-10T12:04:00","date_gmt":"2026-05-10T09:04:00","guid":{"rendered":"https:\/\/en.tomanifesto.gr\/?p=4832"},"modified":"2026-05-10T12:04:00","modified_gmt":"2026-05-10T09:04:00","slug":"alexander-exarchou-the-vertical-corridor-is-not-a-theory-lng-contracts-and-the-plan-that-changes-the-energy-map","status":"publish","type":"post","link":"https:\/\/en.tomanifesto.gr\/?p=4832","title":{"rendered":"Alexander Exarchou: The Vertical Corridor is not a theory – LNG contracts and the plan that changes the energy map"},"content":{"rendered":"

Alexandros Exarchou describes the Vertical Corridor<\/strong> as a project of national and geopolitical importance, now gaining a commercial footing through LNG agreements and long-term contracts. <\/p>\n

While warning about the market for renewables<\/strong>, the pressures on banks and the new energy battle taking shape in Europe. <\/p>\n

As he reports from an ambitious project with a strong geopolitical footprint, the Everywhere Corridor of natural gas<\/strong> is gradually moving into the implementation phase. AKTOR CEO Alexandros Exarchou, speaking to Business Story, says there are now specific agreements, committed volumes and a clear commercial basis on which the project can be built. <\/p>\n

“Until recently we were talking about a concept,” he says. “Now we have taken a significant step further as there are agreements in place, there are quantities and there is now a real basis on which the project can be built.” <\/p>\n

The next period is seen as crucial for the project’s progress. The conversion of memoranda of understanding into binding agreements, the finalisation of gas volumes and decisions on new infrastructure will determine the next step. <\/p>\n

“We want to have completed the key agreements within the year,” Mr. Exarchou notes, adding: “If that happens, then we can talk with much greater certainty about the next stage, which is infrastructure.” <\/p>\n

Based on the contracts and memoranda of understanding to date, the Vertical Corridor<\/strong> looks set to secure volumes in excess of 4 to 4.5 bcm per annum. The volumes are for Albania, Bosnia-Herzegovina and Romania, while contacts are underway with Bulgaria, Ukraine and North Macedonia. <\/p>\n

This size is directly linked to the capacity of a FSRU<\/strong>, opening up the discussion of new LNG infrastructure in the region. According to the Group’s estimates, after 2030 the project could generate revenues of EUR1.6 to 2.5 billion and boost EBITDA by EUR80 to 130 million per year. <\/p>\n

“One FSRU has a capacity of about 4.5 bcm. If we alone reach these levels, then obviously the question of a second FSRU arises,” the AKTOR chief stresses, however, clarifying that there is no mature investment decision yet. <\/p>\n

He also makes special reference to the inclusion of Albania in the energy plan. As he explains, there are plans to build a pipeline of about 35 kilometers that will connect TAP with the gas consumption areas in Albania. The cost of the project is estimated at EUR 70 million and, according to him, will be covered by the Albanian state. <\/p>\n

At the same time, he clarifies that the Greek side is not considering investments for FSRUs outside Greece. “I have not made any commitment for FSRUs outside Greece. If someone wants to do it, it is his own business,” he says. <\/p>\n

The new gas transit pricing agreement, which creates a more stable cost framework for the countries participating in the corridor, also plays an important role in the project’s progress. <\/p>\n

“From now on, not every country can price as it likes. There is a uniform and known in advance way,” says Exarchou, insisting that the energy corridor will not be judged by short-term auctions but by LNG contracts with a horizon until 2050. <\/p>\n

In the international environment, the AKTOR chief describes an increasingly difficult market LNG<\/strong>, where the problem is not only prices but mainly cargo availability. <\/p>\n

“My personal estimate is that the price of gas in the TTF could reach up to 85 euros per megawatt hour, causing an unsustainable cost to the market. At the same time, there will be great difficulty in securing LNG. There will be a battle to find volumes even if the war ends immediately,” he stresses. <\/p>\n

As he explains, the growing demand from Asia and especially China, combined with Russia’s strategic shift towards Asian markets, is creating new realities in the global energy market. <\/p>\n

“If you ask me whether Russia will send gas to Europe or China, I think the answer is obvious,” he says. <\/p>\n

He believes that Europe should seek a balance between different suppliers and not depend solely on either Russia or the US. <\/p>\n

“Europe must stop acting reactively. It cannot depend on either Russia or America. There must be a balance between suppliers. If that means paying more, then it must do so. Because energy is not just a question of cost, it is mainly a question of security,” he says. <\/p>\n

Alexander Exarchou also rejects the scenarios about the withdrawal of DEPA from the Atlantic project, stressing that the character of the project remains national. <\/p>\n

“I have said it from day one and I absolutely believe it: it is first a national project and then a business project,” he says, noting that cooperation with DEPA Emporia is a key part of the planning. <\/p>\n

At the same time, he explains that the business model is based on long-term LNG purchase and sale contracts, which create greater stability. <\/p>\n

“We have locked in an LNG purchase price for a long period of time and we have locked in a sale price at a better level. This creates a relatively secure framework,” he notes. <\/p>\n

The AKTOR chief also stands by the challenges facing the Renewable Energy<\/strong> market, warning of a potential risk of new “red” loans of up to \u20ac25 billion. <\/p>\n

As he explains, the rapid development of photovoltaics without a corresponding strengthening of storage infrastructure is leading to increasing production cuts, putting pressure on the viability of many investments. <\/p>\n

“We have built thousands of PV systems without any battery provision,” he says, insisting that large storage units are now necessary for market stability. <\/p>\n

He says that if production cuts exceed 20%, several renewable energy projects will struggle to service their high bank loans. <\/p>\n

“Red is not just for the entrepreneur, it is mainly for the banks,” he says. <\/p>\n

Finally, Exarchou believes that the next big wave of investment in Southeastern Europe will be in concessions<\/strong> and Partnership<\/strong> projects, especially after the gradual completion of the Recovery Fund resources. <\/p>\n

As it reveals, AKTOR Group is already looking at mature concession projects abroad and conducting due diligence on infrastructure with long-term contracts and stable cash flows. <\/p>\n","protected":false},"excerpt":{"rendered":"

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