A Greek consortium is advancing talks to secure long-term American gas supplies as Europe reshapes its energy strategy. The Greek joint venture seeks 20-year US LNG deal for Europe covering up to 15 billion cubic meters annually to reinforce supply routes into southern and central part of the continent.
Atlantic Sea LNG Trade, a partnership between DEPA and Aktor, is negotiating with U.S. exporters to lock in volumes over two decades. Chief executive Alexandros Exarchou said discussions are progressing ahead of a planned meeting in Washington on February 24.
“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,” Exarchou told Reuters.
As Greek joint venture seeks 20-year US LNG deal for Europe, it comes at a time when Europe is preparing to end Russian gas imports by late 2027. Exarchou said current conditions offer a strategic window for price negotiations.
“Now (is) the best possible time to negotiate prices for the future,” Exarchou said, warning that prices could be “significantly higher” after 2030 as global supply tightens.
The company is also in parallel talks with potential buyers along the Vertical Gas Corridor, which routes gas from Greece through Bulgaria, Romania, Hungary, Moldova, Austria and potentially Ukraine. Exarchou noted strong consumption trends in Romania, Hungary and Moldova, with industrial demand increasing further south.
Earlier, Atlantic Sea LNG Trade signed its first U.S. LNG agreement with Ukraine. A cargo is scheduled for March delivery through the Revithoussa terminal before onward transit to Naftogaz via Bulgaria, Romania and Moldova.
