Greece's Emerging Role as Europe's Energy Gateway: A New Era of U.S. Collaboration

The United States is keen on enhancing its energy relationship with Greece to turn the country into a pivotal energy gateway for Europe, according to Kimberly Guilfoyle, the new U.S. ambassador to Greece. Greece has significantly increased its import of U.S. liquefied natural gas (LNG) and constructed an additional LNG terminal. This initiative positions Greece as a crucial route for U.S.-imported gas entering Europe, especially as European countries aim to eliminate their dependency on Russian gas by 2027 due to sanctions related to the Ukraine conflict.

This week, Athens hosts a U.S.-led conference focusing on energy security and infrastructure investments, featuring U.S. secretaries Chris Wright and Doug Burgum, along with senior executives from leading American energy firms and European energy ministers. A highlight will be discussions on the Vertical Gas Corridor — an initiative involving Greece and other European countries like Ukraine and Hungary. This corridor, utilizing the underutilized Transbalkan pipeline, aims to increase the northward flow of LNG from Greek terminals into Central Europe and Ukraine, fortifying energy security.

Through a recent trade agreement, Europe has committed to purchasing $250 billion worth of U.S. energy annually over three years, comprising oil, LNG, and nuclear technology. This deal promises substantial economic advantages for the U.S., while diversifying energy sources for European nations.