A coalition of twelve nations from Central and Southeastern Europe is poised to establish a formal partnership with the United States through a joint declaration aimed at bolstering natural gas supply security and enhancing price stability in the region. This initiative is part of a broader strategy to reduce reliance on Russian pipeline gas, thereby diversifying energy sources and improving regional energy resilience.
The countries involved in this agreement include Greece, Bulgaria, Hungary, Poland, Slovakia, Moldova, Ukraine, Croatia, Lithuania, Serbia, and Bosnia and Herzegovina. The anticipated increase in imports of US liquefied natural gas (LNG) into Eastern Europe is expected to play a significant role in achieving these objectives.
The forthcoming declaration will focus on enhancing the efficiency and financial sustainability of regional gas markets. Key measures outlined include maximizing the utilization of existing pipelines and LNG terminals, expanding necessary infrastructure, and removing regulatory barriers that hinder competition or discourage imports. A critical goal is to ensure long-term predictability in cross-border gas trade.
This agreement will be formalized during an upcoming Transatlantic Summit, which will center on discussions surrounding gas supply security. The participating governments are expected to express their collective commitment to strengthening Europe’s energy resilience by diversifying energy sources and fostering collaboration with dependable partners while gradually phasing out Russian gas from their energy portfolios.
A pivotal aspect of this strategy is the establishment of the Vertical Gas Corridor, which aims to create a transmission axis for transporting LNG volumes from southern entry points throughout the region. This initiative underscores a significant shift towards greater energy independence for Central and Southeastern Europe.
