At a time when global energy markets have once again been affected by geopolitical instability, the war in Iran and heightened tensions around the Strait of Hormuz serve as a stark reminder of a critical reality: energy flows remain vulnerable whenever geopolitical conflicts threaten key maritime trade routes.
Price volatility, mounting pressure on shipping and uncertainty over supply security underscore that energy security is no longer simply a market issue, but a fundamental prerequisite for economic stability and strategic autonomy.
Against this backdrop, DEPA Commercial has consistently pursued a diversification strategy spanning supply sources, transportation routes and business activities, with the aim of strengthening the resilience of Greece and the wider region against disruptions that could affect the global energy supply chain.
The geopolitical dimension of this strategy is reflected in initiatives that extend beyond the domestic market and reinforce Greece’s role as a reliable energy hub for Southeast and Central Europe. Among these are the establishment of ATLANTIC – SEE LNG TRADE and the agreement to supply US LNG to Greece, broadening access to alternative sources of supply at a time when Europe is seeking to reduce its dependence on regions exposed to heightened geopolitical risk.
At the same time, the company’s cooperation with Naftogaz, through a Letter of Intent signed in November 2025, provides for the supply of US LNG to the Ukrainian market, contributing to the country’s energy security as it remains at the forefront of Europe’s energy uncertainty.
The Vertical Corridor also plays a central role in this strategy, enabling LNG imported into Greece to be transported to markets across Central and Eastern Europe. As traditional energy transit routes become increasingly vulnerable to disruption, the availability of alternative supply corridors is gaining strategic importance not only for Greece but for European energy security as a whole.
DEPA Commercial’s diversification strategy is further supported by its participation in critical energy infrastructure that enhances the liquidity, flexibility and interconnectivity of the regional natural gas market. Its stake in the Alexandroupolis FSRU and its participation in the Greece-Bulgaria Interconnector (IGB) expand Greece’s import capacity and strengthen links with neighboring markets.
The company is also expanding its presence in power generation to bolster energy adequacy and system reliability. The 840-MW natural gas-fired power plant in Alexandroupolis is a key pillar of domestic electricity generation, while the power plant in Fier, Albania, further strengthens DEPA Commercial’s regional footprint. Another flagship investment is the new 792-MW combined-cycle natural gas power plant in Larissa, featuring net efficiency of 62.6%, which further reinforces the company’s position in Greece’s evolving energy landscape.
Diversification also extends beyond conventional energy. DEPA Commercial is developing a renewable energy portfolio with a total capacity of 1 GW, focusing on utility-scale photovoltaic projects, Greece’s first compressed biomethane production facility supplying its nationwide FISIKON CNG retail network, as well as Small Scale LNG and Remote CNG applications.
Overall, DEPA Commercial’s strategy combines the diversification of supply sources and transportation routes with investments in critical infrastructure, expansion in power generation and a growing presence in clean energy. Through this integrated approach, the company is strengthening Greece’s energy security while supporting the country’s emergence as a reliable energy hub for Southeast and Central Europe.
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