Greece Emerges as Key Player in European LNG Strategy

As Europe prepares for the full halt of Russian natural gas flows by the end of 2027, Greece's liquefied natural gas (LNG) infrastructure is emerging as a strategic pillar in the continent's next energy chapter. Within six months, the European Commission will clarify how it will finance critical energy infrastructure and gas transport projects aimed at filling the supply gap left by Russian gas.

Konstantinos Sifnaios, managing director of Gastrade, said pressure is building inside the EU to accelerate decisions on funding key infrastructure. Landlocked countries heavily dependent on Russian gas are pushing for faster action, and the US is also stepping up its efforts to replace Russian volumes with American LNG cargoes.

Funding will likely be selectively directed toward FSRUs and critical pipeline networks that can increase LNG import capacity and ease bottlenecks in Eastern Europe. A key project under discussion is a second FSRU planned by Gastrade in the Thracian Sea, near Alexandroupolis in northeastern Greece, with an estimated investment of €550 million to €600 million.

The existing Alexandroupolis FSRU has an average capacity of 5.5 billion cubic meters per year. The proposed second unit would offer similar capacity, enhancing the flexibility and export potential of the Greek gas system.