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Part of Capital Clean Energy Carriers Corp., based in Athens, Greece, focuses on transporting LNG and acquired LPG-ammonia carriers.

How will the promotion of US LNG purchases affect Greece?

Greece's energy sector may benefit from US LNG via new corridor The promotion of US liquefied natural gas (LNG) has accelerated the development of the Vertical Gas Corridor, a route intended to bring US LNG into Greece. This effort involves the Greek state-owned energy company DEPA and the Greek company Aktor, which formed the joint venture Atlantic-SEE LNG. This venture has already signed memoranda of understanding and commercial agreements with gas companies in several Southeast European nations, including Bulgaria, Ukraine, and Romania.

Reported by 1 independent outlet Written Sep 27
Effect
Mild positive
How direct
Stated in the reporting
When
Within weeks
The story
Gone quiet

How it reaches Greece

Reported by news outlets

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The facts so far

As reported. Each one links to where it comes from.

  • The Vertical Gas Corridor is intended to bring US LNG into Greece and transport it by pipeline to Ukraine.novinite.com
  • Aktor established Atlantic-SEE LNG, a joint venture owned 60% by Aktor and 40% by DEPA.novinite.com
  • Atlantic-SEE LNG has signed memoranda of understanding and commercial agreements with gas companies in Bulgaria, Ukraine, Bosnia and Herzegovina, and Romania.novinite.com
  • A USD6 billion agreement was secured in Albania, which would result in Albania purchasing gas from the company through 2050 if implemented.novinite.com

Why it matters

The development of the Vertical Gas Corridor is strategically important for Greece and Southeast Europe, as it aims to reduce the region's dependence on Russian energy. By facilitating the import of US LNG, the infrastructure project supports Greece's energy security and positions it as a key transit point for natural gas into Central and Eastern Europe.

This initiative highlights the intersection of energy policy, infrastructure development, and corporate interests in the region. The involvement of Greece's state-owned energy company, DEPA, in the joint venture underscores the national importance of securing reliable, non-Russian energy supplies for the country and its neighbors.

What we don't know yet

  • Will the potential USD6 billion agreement in Albania ultimately be completed?
  • How will the suspension of talks over future purchases from Atlantic-SEE by Ukraine's state-owned gas company affect the project?

What would change this answer

The joint venture Atlantic-SEE LNG secures additional major contracts in the region.The positive impact on Greece's energy market and infrastructure would become stronger and more immediate.
Political instability or changes in government occur in Bulgaria or Ukraine.The progress and viability of the Vertical Gas Corridor and its associated agreements could be severely jeopardized.

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Beyond this explainer

Questions worth asking

Ideas the web ties closely to this story that the explainer doesn't mention. These are prompts for your own research: Brind hasn't answered them.

  • About Regasification

    Since the Vertical Gas Corridor is intended to bring US LNG into Greece and transport it to Ukraine, what specific regasification infrastructure is planned for the route?

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Reporting

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The full eventUS Ambassador Pushed Bulgarian Officials to Buy LNG Through Greek Firm Everything aboutGreece

Brind's analysis is written by AI from the reporting linked above and can be wrong. It is not investment advice; do your own research.