Greece Launches New LNG Consortium to Supply Ukraine

Greece is moving to establish a joint venture, Atlantic, SEE LNG Trade S.A. formed by Depa Commercial and the AKTOR Group. The new entity will purchase LNG on the global market, import it to Greece, and sell it domestically and to regional partners, including Ukraine.

The announcement comes during the Partnership for Transatlantic Energy Cooperation (P-TEC) summit in Greece on November 6–7, attended by US Energy Secretary Chris Wright and officials from 25 European and American countries. Central themes include the Trans-Balkan route, which enables LNG flows from Greece to Eastern Europe, and plans to expand both Greek LNG infrastructure and US LNG deliveries to Ukraine.

A major deal is now in preparation: Ukrainian companies DTEK and Naftogaz are expected to sign an LNG supply contract with US producer Venture Global, brokered through the new Greek consortium. The agreement would secure around two billion cubic meters of gas annually, transported via the Trans-Balkan corridor.

US LNG suppliers are experiencing a surge in long-term contracting. In the first ten months of this year, US exporters have concluded contracts totaling 29.5 million tons per year — over 300% more than in all of 2024 and the second-highest annual volume on record, surpassed only in 2022 after Russia’s invasion of Ukraine reshaped global gas markets.