Venture Global has announced a new long-term offtake agreement with Atlantic-See LNG, a newly formed joint venture in Greece. This contract provides for the supply of a minimum of 0.5 million tons per year of liquefied natural gas(LNG) from the United States to Europe, with commencements scheduled for 2030.
Greece’s LNG supply and energy diversification
This contract records transatlantic energy cooperation. Atlantic-See LNG is the result of a partnership between the Greek companies AKTOR and DEPA, officially presented during the sixth edition of the Partnership for Transatlantic Energy Cooperation(PTEC) conference, held in Athens.
This agreement, the first of its kind between Greece and a U.S. exporter of liquefied natural gas, establishes a lasting commercial relationship, and also supports the regional objectives of stability and security of supply.
The Alexandroupolis regasification infrastructure, located in northeastern Greece, is important in this transaction. Venture Global has previously invested in this terminal, currently responsible for about 25% of its operating capacity. This floating storage and regasification facility (FSRU)(FSRU) will be part of the so-called “South-North Vertical Corridor”, which connects Greece with Central and Eastern European countries.
The agreement allows Atlantic-See to expand its purchase commitment, which will potentially increase the volume of LNG supplied. This consolidates Greece’s position as a strategic node in the European energy supply network.
Since 2022, Venture Global has scaled up its international presence as a strategic supplier of liquefied natural gas. With projects such as Calcasieu Pass, Plaquemines LNG and CP2 LNG under development in Louisiana, the company leads the export of LNG, and drives carbon capture technologies at its plants.
Venture Global CEO Mike Sabel mentioned that this agreement symbolizes a significant advance in energy collaboration between the United States and Europe. Sabel noted that this new route will help ensure access to affordable and reliable energy in the region.
Source and photo: Venture Global
