A coalition of twelve countries from Central and Southeastern Europe is on the verge of formalizing a significant energy partnership with the United States through a joint declaration. This initiative aims to bolster natural gas supply security and improve price stability across the region, reflecting a strategic pivot away from reliance on Russian gas supplies.
The participating nations, which include Greece, Bulgaria, Hungary, Poland, Slovakia, Moldova, Ukraine, Croatia, Lithuania, Serbia, and Bosnia and Herzegovina, are expected to facilitate increased imports of US liquefied natural gas (LNG). This move is seen as crucial for diversifying energy sources and enhancing regional energy security amidst ongoing geopolitical tensions.
The forthcoming declaration underscores the necessity for more efficient and financially sustainable regional gas markets. It advocates for maximizing the use of existing infrastructure such as pipelines and LNG terminals while also calling for the expansion of these facilities where necessary. Additionally, eliminating regulatory barriers that hinder competition or discourage imports is highlighted as essential for fostering a more robust energy market.
This agreement will be formally signed during an upcoming Transatlantic Summit focused on gas supply security. The governments involved are expected to articulate their collective commitment to enhancing Europe’s energy resilience through diversification of energy sources and cooperation with reliable partners. A key aspect of this strategy includes the gradual reduction of Russian gas dependency.
A significant component of this initiative is the development of the Vertical Gas Corridor. This transmission axis is designed to facilitate the transportation of LNG volumes from southern entry points throughout the region, thereby enhancing connectivity and supply options for participating countries.
