Greece establishes a new company to import LNG, possibly to Ukraine

Greek companies Depa Commercial (40%) and AKTOR Group (60%) have launched the establishment of a joint company – Atlantic - SEE LNG Trade S.A., which will be engaged in the purchase and import of LNG to Greece, as well as its further resale outside Greece, including to Ukraine.

Konstantinos Xifaras was appointed Chairman of the Board of Directors, Alexandros Exarchou as CEO, and the Board of Directors members are Anastasios Aranitis, Konstantinos Adamopoulos, and Konstantinos Karagiannakos.

P-TEC Summit

Within the framework of its business strategy, the new company is studying and assessing relevant business opportunities for cooperation. On November 6-7, Greece will host the Partnership for Transatlantic Energy Cooperation (P-TEC) Summit. The event will be attended by high-ranking officials from the United States, including Energy Secretary Chris Wright, and energy ministers from about 25 countries across Europe and the Americas.

Among the main topics of the meeting is the Vertical Corridor, an initiative that enables the transportation of natural gas, primarily LNG, from Greece to Eastern European countries, including Ukraine. In addition, the development of LNG infrastructure in Greece will be discussed.

LNG to Ukraine

According to ExPro sources, confirmed by Greek media, the summit may include discussions on increasing supplies of US LNG to Ukraine. In the near future, a contract may be signed for the supply of LNG from US producer Venture Global to Ukrainian DTEK and Naftogaz, through the mediation of the new Greek company Atlantic - SEE LNG Trade.

Import volumes may reach 2 bcm per year, with gas transported via the Vertical Corridor along the jointly booked capacity routes, Route 1 or Route 2 (which has not yet been launched).

As a reminder, D.Trading (the European trading division of Ukraine’s DTEK Group) has an LNG purchase agreement with US company Venture Global, valid until the end of 2026. LNG may be supplied from the Plaquemines plant on the US Gulf Coast.