The European Union’s plan to end Russian gas imports by 2027 presents Greece with both major opportunities and serious challenges. On the positive side, the country’s expanding liquefied natural gas (LNG) infrastructure — anchored by the Revythoussa terminal near Athens and the Alexandroupoli floating storage and regasification unit (FSRU) — is positioning Greece as a key regional energy hub. Along with the soon-to-be completed Vertical Gas Corridor, this network could serve as a main route for transporting U.S. LNG shipments to Eastern and Central Europe, including Ukraine, as the EU diversifies away from Russian supplies.
Government officials note that this shift significantly enhances Greece’s geopolitical and commercial standing. The country’s LNG terminals are expected to substitute around 15 billion cubic meters of Russian gas currently flowing through Bulgaria, Romania, and Hungary. The rapid growth of energy trade and infrastructure investment has also drawn strong interest from U.S. energy companies.
However, Greece still faces structural weaknesses that could undermine its energy security. Unlike most neighboring countries, Greece has no underground gas storage facilities and relies solely on continuous LNG deliveries. With Russian pipeline gas disappearing and the Trans Adriatic Pipeline (TAP) from Azerbaijan as the only non-LNG import source, Greece’s supply stability is increasingly tied to the volatile spot LNG market. The sharp price fluctuations seen during the 2022 energy crisis highlighted this vulnerability.
Experts suggest that long-term LNG contracts could help Greece reduce exposure to market volatility and secure more predictable pricing, yet no such deals have been finalized so far. Until new LNG production from the United States and Qatar becomes available around 2027–2028, both Greece and the wider European market will need to carefully balance energy affordability, reliability, and security as the continent moves toward a post-Russian gas future.
