ATLANTIC SEE LNG TRADE S.A., a joint venture between AKTOR Group (60%) and DEPA Commercial (40%), signed the first agreement for the sale of US Liquefied Natural Gas in Ukraine.
The agreement, signed on January 30, concerns the supply of LNG with BP as supplier and Naftogaz of Ukraine as buyer, marking the start of ATLANTIC SEE LNG TRADE’s commercial activity in the regional natural gas market.
First cargo to be delivered in March via Greece
The first LNG cargo will arrive in Revithoussa, with its delivery to Ukraine scheduled in March. The quantities to be delivered will be transported via Route 1 (Greece – Bulgaria – Romania – Moldova – Ukraine). The maximum transport quantity may reach up to 1 million MWh (1 TWh), depending on the available capacity of the gas network operators.
This agreement is the first major commercial transaction of ATLANTIC SEE LNG TRADE, which was established last November, and contributes to the further exploitation of the Vertical Gas Corridor in South-East Europe, allowing the transport of gas from Greece to Ukraine via interconnected infrastructure. It is recalled that ATLANTIC SEE LNG TRADE has already entered into a long-term agreement with Venture Global for the supply of LNG from the United States starting in 2030.
Xifaras: “We are moving from planning to action”
Konstantinos Xifaras, President of ATLANTIC SEE LNG TRADE and CEO of DEPA Commercial, stated: “The agreement signed on January 30 marks the beginning of a new phase for ATLANTIC SEE LNG TRADE and for Greece’s role on the European energy map. Following the delivery of the first American LNG cargo in March, we are moving from planning to action, commercially exploiting the infrastructure of the Vertical Corridor that enhances the interconnectivity and diversification of supply sources in the wider region.
Greece is emerging as a gateway for entry and transit of American LNG to Southeastern and Central Europe, contributing in practice to Europe’s energy security and resilience, as well as supporting Ukraine at a critical juncture.”
Exarchou: “The vertical corridor is becoming a reality”
Alexandros Exarchou, CEO of ATLANTIC – SEE LNG TRADE S.A. and President and CEO of AKTOR Group stated: “With this agreement, the vertical corridor is becoming a reality and opens a path that will not only contribute to Europe’s energy security, but will also provide significant benefits to the Greek economy.
It is the EU’s obligation to support the vertical energy corridor at all levels, if it wants to send a substantial message of consistency between words and deeds for the ban on Russian gas imports – both directly and indirectly through third country infrastructure, as clearly foreseen by the recent European regulation itself. Energy is a leading and decisive factor for the competitiveness of European businesses and the well-being of citizens, and the use of the vertical corridor can make a difference in the wider region, at a time of major geopolitical realignments.”
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