HomeNewsGreek JV seeks 20-yr U.S. LNG deal to strengthen Southern Europe’s gas supply

Greek JV seeks 20-yr U.S. LNG deal to strengthen Southern Europe’s gas supply

2/6/2026
  • Atlantic Sea LNG Trade seeks 15 Bm3y of U.S. LNG for 20 yrs
  • Talks with U.S. suppliers and Vertical Gas Corridor buyers ongoing
  • Greece aims to be key gas transit route for Europe

Atlantic Sea LNG Trade, a joint venture (JV) between Greece's gas supplier DEPA and construction group Aktor, is in talks to secure up to 15 Bm3y of U.S. liquefied natural gas (LNG) for 20 yrs to supply southern Europe, its CEO said.

The talks come as Greece seeks to bolster its role as a transit route for gas into Europe and as the continent prepares to halt Russian gas imports by late 2027, intensifying competition for long‑term LNG supply and increasing pressure on governments to avoid being caught short.

"If Europe doesn't want to be again hostage to gas, they need to secure long-term agreements with the United States... to secure balance in the future and availability of gas at reasonable prices," CEO Alexandros Exarchou said in an interview.

Atlantic Sea LNG Trade, which imports LNG into Greece and sells it on to central Europe and Ukraine, aims to firm up an agreement during a meeting in Washington on February 24, he said.

"Now (is) the best possible time to negotiate prices for the future," Exarchou said, arguing that prices might be "significantly higher" in future due to tighter markets after 2030 when available supply may not meet demand.

The company is negotiating long-term deals with U.S. suppliers and is holding parallel discussions with potential buyers across the Vertical Gas Corridor - a route to transport gas from Greece through central Europe and Ukraine. Those potential buyers are in Albania, North Macedonia, Bulgaria, Romania, Hungary, Moldova, Austria and potentially Ukraine, he said.

"We see serious demand in consumer consumption in the North (of the corridor). For instance, in Romania, Hungary and Moldova the consumer consumption of gas is very high, whereas industrial is more as you go towards the South," Exarchou said.

On Monday, Atlantic Sea LNG Trade signed its first U.S. LNG contract with Ukraine, with a cargo scheduled for delivery in March via Greece’s Revithoussa terminal and onward to Ukraine's energy company Naftogaz through Bulgaria, Romania and Moldova.

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