Greece and U.S. Ink Landmark LNG Deal to Transform European Energy Landscape
Greece has entered a 20-year agreement to import 700 million cubic metres of U.S. liquefied natural gas annually starting in 2030. This deal marks Greece's shift from a Russian-centric energy system to a hub for American LNG in Europe. Ukraine and Romania are potential future customers.
In a significant geopolitical move, Greece has inked a 20-year deal to import 700 million cubic metres of U.S. liquefied natural gas (LNG) annually, commencing in 2030. This agreement marks Greece's first long-term energy pact with Washington, amid efforts to phase out Russian gas from Europe.
The U.S. hailed the agreement, viewing it as a crucial step to replace Russian energy in Western Europe. Officials underscored Greece's transformation from a terminal point in the Russian-dominated gas network to a launchpad for American energy exports.
Greece aims to enhance its role as a transit hub, boosting gas exports to Ukraine and other Northern European nations. The newly established joint venture between DEPA, Aktor, and Venture Global anticipates expanded capacities amid rising interest from countries like Ukraine and Romania.
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