The agreement signed on Friday between ATLANTIC – SEE LNG TRADE (a joint venture between the AKTOR Group and DEPA Commercial) and the US-based company Venture Global, one of America’s largest LNG producers headquartered in Louisiana, provides for the supply of 0.5 to 1.5 million tonnes of liquefied natural gas (LNG) annually from the United States to Greece for a period of 20 years, beginning in 2030.
According to a statement by the Greek company, these LNG volumes will be transported to Greece by ATLANTIC – SEE LNG TRADE and subsequently sold to markets in Central and Eastern Europe. The agreement also includes a clause allowing the contracted quantities to be increased further by mutual consent of the parties.
This is the first long-term LNG supply agreement between Greece and a US supplier in the country’s energy history, marking a significant step forward in energy cooperation between Greece and the United States.
At the same time, the Greek company signed Memoranda of Understanding (MoUs) with state entities in Romania and Ukraine for the sale of substantial LNG volumes — a move representing the next stage in its strategy to supply LNG from Greece to Central and Eastern Europe.