$9B Greek Deal Secures US LNG Supply for Balkans

A Greek construction group and DEPA Commercial have finalized a massive $9 billion deal to import American liquefied natural gas (LNG) for sale to Albania and Bosnia. The 20-year agreement, valued at $9 billion by its principals, covers 1.5 billion cubic meters of gas.

The deal was signed with US firm Venture Global, which will supply the gas from 2030 onward. Atlantic SEE LNG Trade, a joint venture between AKTOR and DEPA Commercial, is behind the agreement.

The gas will be routed through the Vertical Corridor, a planned route carrying supply northward from Greece through the Balkans toward Central and Eastern Europe. This move aims to reduce the region's dependence on Russian gas, according to Alexandros Exarchou, managing director of Atlantic SEE LNG Trade and chairman and CEO of AKTOR.

The deal is seen as a strategic alliance between Greece and the United States for Europe's energy security. Environment and Energy Minister Stavros Papastavrou highlighted the cooperation in remarks ahead of the press conference, stating that the Vertical Corridor was taking concrete shape through the Atlantic SEE LNG Trade and Venture Global agreement.