The Atlantic SEE LNG Trade consortium, formed by DEPA and Aktor, is actively pursuing long-term contracts to import US liquefied natural gas (LNG) into Europe, aiming for a volume of up to 15 billion cubic meters (bcm) annually over the next two decades. This initiative reflects a broader strategic transition within Europe as it seeks to diversify its energy sources in response to the anticipated phase-out of Russian gas imports by the end of 2027.
As European nations and energy companies scramble to secure stable gas supplies, Greece is positioning itself as a critical southern LNG gateway. The consortium’s negotiations are particularly timely, with high-level discussions scheduled in Washington for late February. Company officials believe that current market dynamics present a unique opportunity to lock in favorable pricing before global LNG markets potentially tighten post-2030.
In addition to securing supply agreements, Atlantic SEE LNG Trade is exploring opportunities along the Vertical Gas Corridor, which connects Greece with Central and Eastern Europe. The consortium has identified interest from potential buyers in countries such as Albania, North Macedonia, Bulgaria, Romania, Hungary, Moldova, Austria, and possibly Ukraine. Demand patterns vary significantly across these regions; household consumption is notably strong in northern areas like Romania and Moldova, while industrial demand is more pronounced in southern countries.
The consortium has already made strides in its mission by finalizing its first US LNG deal linked to Ukraine. A shipment is set to arrive at Greece’s Revythoussa LNG terminal in March before being transported north through Bulgaria and Romania to Naftogaz in Ukraine.
Through a strategy that combines long-term procurement with downstream sales across various markets, Atlantic SEE LNG Trade aims to establish a diversified supply chain for southern and central Europe. This approach not only seeks to mitigate geopolitical risks but also aims to provide more stable pricing for gas supplies moving forward.
