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Greek joint venture seeks 20-year US LNG deal to strengthen Southern Europe’s gas supply
Published by Global Banking & Finance Review®
Posted on February 6, 2026
2 min readLast updated: February 6, 2026
Home > Finance > Greek joint venture seeks 20-year US LNG deal to strengthen Southern Europe’s gas supply
Quick Summary
Atlantic Sea LNG Trade is in talks for a 20-year US LNG deal to supply Southern Europe, aiming to secure long-term energy stability as Europe shifts away from Russian gas.
Greece's Atlantic Sea LNG Trade Pursues 20-Year U.S. Gas Agreement
Greece's LNG Strategy and U.S. Partnerships
By Dmitry Zhdannikov and Marwa Rashad
Negotiations for Long-Term Gas Supply
LONDON, Feb 6 (Reuters) - Atlantic Sea LNG Trade, a joint venture between Greece's gas supplier DEPA and construction group Aktor, is in talks to secure up to 15 billion cubic meters (bcm) of U.S. liquefied natural gas (LNG) annually for 20 years to supply southern Europe, its CEO told Reuters.
Market Demand in Central Europe
The talks come as Greece seeks to bolster its role as a transit route for gas into Europe and as the continent prepares to halt Russian gas imports by late 2027, intensifying competition for long‑term LNG supply and increasing pressure on governments to avoid being caught short.
Recent Contracts and Deliveries
"If Europe doesn't want to be again hostage to gas, they need to secure long-term agreements with the United States... to secure balance in the future and availability of gas at reasonable prices," CEO Alexandros Exarchou told Reuters in an interview.
Atlantic Sea LNG Trade, which imports LNG into Greece and sells it on to central Europe and Ukraine, aims to firm up an agreement during a meeting in Washington on February 24, he said.
"Now (is) the best possible time to negotiate prices for the future," Exarchou said, arguing that prices might be "significantly higher" in future due to tighter markets after 2030 when available supply may not meet demand.
The company is negotiating long-term deals with U.S. suppliers and is holding parallel discussions with potential buyers across the Vertical Gas Corridor - a route to transport gas from Greece through central Europe and Ukraine. Those potential buyers are in Albania, North Macedonia, Bulgaria, Romania, Hungary, Moldova, Austria and potentially Ukraine, he said.
"We see serious demand in consumer consumption in the North (of the corridor). For instance, in Romania, Hungary and Moldova the consumer consumption of gas is very high, whereas industrial is more as you go towards the South," Exarchou said.
On Monday, Atlantic Sea LNG Trade signed its first U.S. LNG contract with Ukraine, with a cargo scheduled for delivery in March via Greece’s Revithoussa terminal and onward to Ukraine's energy company Naftogaz through Bulgaria, Romania and Moldova.
(Reporting by Dmitry Zhdannikov and Marwa Rashad; Editing by Susan Fenton)
Key Takeaways
- •Atlantic Sea LNG Trade is negotiating a 20-year LNG deal with the US.
- •The deal aims to supply up to 15 bcm of LNG annually to Southern Europe.
- •Greece seeks to enhance its role as a gas transit route into Europe.
- •The agreement is crucial as Europe plans to halt Russian gas imports by 2027.
- •The joint venture signed its first US LNG contract with Ukraine.
Frequently Asked Questions about Greek joint venture seeks 20-year US LNG deal to strengthen Southern Europe’s gas supply
1What is liquefied natural gas (LNG)?
Liquefied natural gas (LNG) is natural gas that has been cooled to a liquid state for easier storage and transport. It is primarily composed of methane and is used as a cleaner alternative to other fossil fuels.
2What is a joint venture?
A joint venture is a business arrangement where two or more parties agree to pool their resources for a specific project or business activity, sharing profits, losses, and control.
