Atlantic Sea LNG Trade, a joint venture between Greece’s DEPA Commercial and Aktor Group, is negotiating to secure up to 15 billion cubic meters (bcm) of US liquefied natural gas (LNG) annually. The proposed 20-year agreement aims to cement Greece’s position as a critical energy gateway for Southeast Europe as the continent prepares to phase out Russian gas imports by late 2027.

The discussions align with Greece’s push to become a key gas transit hub as Europe phases out Russian imports by late 2027, amid fierce competition for long-term LNG contracts. Exarchou stressed that Europe must lock in US agreements now to avoid future supply shortages and ensure affordable gas prices, warning of tighter markets and higher costs post-2030.

In an interview with Reuters, CEO Alexandros Exarchou emphasized the urgency for Europe to lock in long-term American supply agreements now to avoid future shortages and price volatility. Exarchou warned that markets are expected to tighten significantly post-2030, potentially leading to sharply higher costs for nations that fail to secure their energy balance today.

The joint venture—owned 60% by Aktor Group and 40% by state-backed DEPA—is focusing its efforts on the Vertical Gas Corridor. This strategic route is designed to transport gas northward from Greek terminals, such as Revithoussa and Alexandroupolis, through a network of pipelines serving Bulgaria, Romania, Moldova, and Ukraine, as well as the Western Balkans and Austria.

The company recently achieved a major milestone by signing its first US LNG contract with Ukraine’s Naftogaz. The agreement involves a cargo delivery scheduled for March 2026, which will arrive at the Revithoussa terminal before being transported via the “Route 1” corridor through Bulgaria and Romania.

Market data analyzed by the venture reveals a distinct demand split along the corridor: northern markets like Romania, Hungary, and Moldova show high consumer gas consumption, while industrial demand increases toward the south. To meet this rising need, Atlantic Sea LNG Trade is simultaneously engaging multiple US suppliers to ensure a diversified portfolio.

Term negotiations are expected to be finalized during a high-level meeting in Washington on February 24. This move follows the joint venture’s previous 20-year agreement with US producer Venture Global, signed in late 2025, which established the foundation for Greece’s first-ever long-term LNG supply partnership with a US exporter.

Atlantic Sea LNG Trade (also styled Atlantic-See LNG Trade) is a joint venture formed in late 2024 between Greece’s state-backed gas supplier DEPA Commercial (40% stake) and construction giant Aktor Group (60% stake via Aktor Energy). Headquartered in Greece, it focuses on importing LNG into the country—primarily via terminals like Revithoussa and Alexandroupolis—for resale across Southeast Europe and the Vertical Gas Corridor.