A coalition involving the United States and various Balkan and Central Eastern European nations has initiated a strategic collaboration to enhance the supply of US liquefied natural gas (LNG) to the region. This initiative was established during discussions held in Washington, reflecting a growing commitment to energy security amid shifting geopolitical landscapes.
The framework for this collaboration was laid out at the Transatlantic Gas Security Summit, which convened representatives from 22 countries, including Albania, Poland, and others. The summit resulted in a joint declaration endorsed by thirteen governments, focusing on reforms intended to bolster gas market resilience, enhance transparency, and reduce regulatory barriers that hinder infrastructure development and imports.
Key participants in this declaration included Greece, Bulgaria, Hungary, Poland, Romania, Slovakia, Moldova, Ukraine, Croatia, Lithuania, Serbia, Bosnia and Herzegovina, and the United States. The agreement emphasizes the need to harmonize gas trading platforms and streamline tariff frameworks while eliminating regulations that could obstruct new infrastructure projects or threaten long-term supply stability.
The declaration also stressed the necessity of mobilizing both public and private financing sources. This includes support from export credit agencies and multilateral lenders to ensure secure and affordable gas supplies throughout the region.
A significant aspect of this strategy is the Vertical Corridor, designed to facilitate the transport of LNG from Greece northward through the Balkans and Eastern Europe towards Ukraine. This corridor will utilize existing pipeline infrastructure originally constructed for transporting Russian gas southward. However, challenges such as elevated transit fees and infrastructure bottlenecks pose significant hurdles to its implementation.
In conjunction with the political commitments made during the summit, six memoranda of understanding were signed. Notably, Atlantic SEE LNG Trade—a joint venture between Aktor and DEPA—secured agreements with Naftogaz, Bulgargaz, Aluminij Industries, M.T. Abraham Group in Bosnia and Herzegovina, as well as with the Albanian Ministry of Infrastructure and Energy. Additionally, separate contracts were established between Metlen and Shell for an annual supply of 0.5 to 1 billion cubic meters of LNG over five years starting in 2027, alongside agreements involving Swiss-based MET Group and Shell.
Despite these advancements, officials recognize that the Vertical Corridor still encounters technical and regulatory challenges. A dedicated working group has convened with ministers from Greece, Bulgaria, Romania, Moldova, and Ukraine alongside representatives from the US and the European Union to tackle these issues. Ongoing technical consultations are planned as stakeholders aim to convert political commitments into operational infrastructure that can significantly alter gas supply dynamics in Central and Eastern Europe.
