According to a recent publication by Bloomberg, Ukraine has successfully negotiated a deal with Greece aimed at ensuring a steady supply of natural gas throughout the upcoming winter heating season. This agreement was announced following discussions between Ukrainian President Volodymyr Zelenskiy and Greek Prime Minister Kyriakos Mitsotakis in Athens.
The arrangement involves Greece’s Depa Commercial SA supplying Naftogaz, Ukraine’s state-owned energy company, with liquefied natural gas (LNG) sourced from the United States from December through March. Mitsotakis emphasized that this partnership not only provides Ukraine with access to diverse energy sources but also positions Greece as a pivotal hub for distributing American LNG across Central and Eastern Europe.
This development comes at a critical time for Ukraine, which is striving to secure its energy needs after suffering significant losses in domestic natural gas production due to ongoing Russian airstrikes targeting its infrastructure. These attacks have led to severe disruptions in gas supply, heating services, and electricity generation across the nation.
The framework of this agreement outlines that LNG will be transported via “Route 1,” facilitated by collaboration among the gas transmission system operators from Greece, Bulgaria, Romania, Moldova, and Ukraine. This strategic route aims to enhance regional energy security while reducing reliance on Russian supplies.
As part of its broader strategy to become an essential player in regional gas transportation, Greece is actively working towards establishing itself as a key transit point for LNG imports and exports. Earlier this month saw Atlantic See-an affiliate of Depa-finalize an agreement with Venture Global for purchasing at least 0.5 million tonnes per year of US LNG over two decades starting in 2030.
The increase in American LNG deliveries reflects Greece’s ambition within the Vertical Corridor project-a significant initiative designed to boost transit capacity for LNG flowing into Greek territory before moving northward toward countries like Romania and Hungary as well as back into Ukraine.
