A Greek-led consortium, Atlantic SEE LNG Trade, is actively pursuing substantial long-term contracts for US liquefied natural gas (LNG) to support southern and central European markets. This initiative comes as part of a broader strategy to reshape the energy landscape in Europe following the anticipated reduction of Russian gas imports by 2027. The consortium, a partnership between DEPA and Aktor, aims to secure up to 15 billion cubic meters (bcm) of LNG annually over a 20-year timeframe.
The urgency of these negotiations reflects a significant shift within European energy policy, as nations and companies scramble to establish stable gas supplies amid geopolitical uncertainties. Greece is positioning itself as a critical southern gateway for LNG into Europe, capitalizing on the growing competition for reliable long-term supply agreements.
Officials from Atlantic SEE LNG Trade have indicated that they plan to finalize framework agreements during high-level discussions scheduled in Washington for late February. They believe that the current market dynamics offer a unique opportunity to lock in favorable pricing before potential increases in global LNG costs post-2030, driven by rising demand.
In addition to securing supply from US producers, the consortium is also exploring opportunities along the Vertical Gas Corridor, which connects Greece with Central and Eastern Europe. Interest has been noted from potential buyers in Albania, North Macedonia, Bulgaria, Romania, Hungary, Moldova, Austria, and possibly Ukraine. The demand landscape varies significantly across these regions; northern countries such as Romania and Hungary exhibit strong household consumption, while industrial demand is more pronounced in southern markets.
<pAtlantic SEE LNG Trade has already made strides in its objectives by completing its inaugural US LNG deal linked to Ukraine. A shipment is set to arrive at Greece’s Revythoussa LNG terminal in March, after which it will be transported northward through Bulgaria, Romania, and Moldova to reach Ukraine’s Naftogaz.
By integrating long-term procurement strategies with downstream sales across multiple markets, Atlantic SEE LNG Trade aims to establish a robust and diversified supply chain for southern and central Europe. This approach is intended to mitigate geopolitical risks and facilitate access to more stable gas prices in the future.
