A fresh effort is underway to secure large volumes of US liquefied natural gas (LNG) for Europe, as a Greek-led consortium seeks to position itself at the heart of the continent’s post-Russian gas landscape. Atlantic SEE LNG Trade, a joint venture between DEPA and Aktor, is negotiating long-term supply deals with US producers that could total up to 15 bcm per year over a 20-year period.
The negotiations highlight a wider strategic shift in Europe, where governments and energy firms are rushing to lock in reliable gas supplies ahead of the planned phase-out of Russian imports by the end of 2027. Greece is aiming to reinforce its role as a southern LNG gateway to Europe, as competition intensifies for long-term contracts.
Company officials say the goal is to reach framework agreements during high-level meetings in Washington set for late February. Management believes current market conditions present a rare window to secure future prices before global LNG markets tighten, with the risk of significantly higher costs after 2030 as demand begins to exceed supply.
Atlantic SEE LNG Trade is also engaging potential buyers along the Vertical Gas Corridor, which links Greece with Central and Eastern Europe. Interest has emerged in Albania, North Macedonia, Bulgaria, Romania, Hungary, Moldova, Austria and possibly Ukraine. Demand differs across the region, with household consumption particularly strong in northern countries like Romania, Hungary and Moldova, while industrial demand plays a larger role further south.
The company has already completed its first US LNG deal tied to Ukraine. A cargo is scheduled to arrive in March at Greece’s Revythoussa LNG terminal, before being shipped north via Bulgaria, Romania and Moldova to Ukraine’s Naftogaz.
By pairing long-term procurement with downstream sales in several markets, Atlantic SEE LNG Trade aims to build a diversified regional supply chain for southern and central Europe, helping limit geopolitical risks and secure gas at more predictable prices in the years ahead.
