The recent commercial agreement facilitating the flow of US LNG through Greece marks a significant advancement in the execution of the Vertical Gas Corridor. This development is a result of a supply-and-sales contract established by the Atlantic SEE LNG Trade consortium, which is poised to expedite the delivery of liquefied natural gas to southeastern Europe, enhancing energy security in the region.
The Atlantic SEE LNG Trade consortium is predominantly controlled by Aktor Group with a 60% stake, while DEPA Trade holds the remaining 40%. The consortium has entered into its inaugural LNG sales contract with Naftogaz Group of Ukraine, with BP designated as the supplier of US LNG. This strategic partnership underscores the collaborative efforts to diversify energy supplies in response to regional demands.
The first shipment of LNG is scheduled to arrive at the Revythoussa LNG terminal in March, with plans for it to be transported to Ukraine shortly thereafter. The gas will traverse north via Route 1, representing a tangible implementation of infrastructure aligned with the objectives of the Vertical Gas Corridor initiative. This milestone illustrates a pivotal transition from planning phases toward operational execution, thereby reinforcing Greece’s position as an emerging regional LNG hub for eastern and southeastern Europe.
This initiative not only enhances logistical capabilities but also signifies a broader strategy aimed at increasing energy independence within these regions. By facilitating access to US-sourced LNG, stakeholders are actively working to mitigate reliance on traditional energy suppliers, thereby fostering greater resilience within local markets. As these developments unfold, they will likely play an integral role in shaping future energy dynamics across southeastern Europe.
