Greece, US back €9 billion LNG deal to supply Albania, Bosnia
Environment and Energy Minister Stavros Papastavrou and US Ambassador to Greece Kimberly Guilfoyle on Wednesday attended the announcement of a €9 billion agreement to supply American liquefied natural gas (LNG) to Albania and Bosnia through Greece, reinforcing the country’s role as a regional energy hub.
The deal, announced by Atlantic See, a joint venture between DEPA Commerce and the AKTOR Group, provides for the sale of 1.5 billion cubic metres of US natural gas annually from 2030 over a 20-year period.
Under the agreement, Atlantic See will double the volumes of LNG it purchases from US energy company Venture Global compared with an initial contract signed in November. The gas will then be sold onward to regional markets, with 1.0 billion cubic metres per year allocated to Albania and 500 million cubic metres to Bosnia.
Greece seeks stronger regional energy role
Speaking at the event, Papastavrou said the vertical natural gas corridor supplying Southeast European countries through Greece would strengthen regional energy security and remain a key part of the continent’s future energy infrastructure.
“Greece is playing a central role in the new energy architecture,” he said, highlighting prospects for LNG imports from Cyprus and the possibility of future domestic natural gas production in Greece.
Guilfoyle said the agreement underscored the strategic partnership between Greece and the United States, describing it as both a commercial and energy security initiative.
She said the deal would enhance Greece’s position as an energy hub while providing regional countries with greater supply diversification, resilience and energy security.
Further regional agreements expected
Konstantinos Xifaras, chairman of Atlantic See LNG Trade and chief executive of DEPA Commerce, said the project would contribute to a more secure and diversified energy future for Europe, emphasizing the importance of reliable energy supplies and regional interconnections.
Alexandros Exarchou, chief executive of Atlantic See LNG Trade and chairman and CEO of the AKTOR Group, described the agreement as having national significance due to the support of both the Greek and US governments.
He added that discussions are already underway with other countries in the region and that additional gas supply agreements are expected to follow.
Source-Photo:AMNA
