Naftogaz signed a Memorandum on imports of American LNG from Greece

Naftogaz of Ukraine on November 7 signed a Memorandum of Understanding (MoU) on imports of American LNG to Ukraine via Greece with Greek companies DEPA Commercial and AKTOR Group, ExPro reports.

The signing took place on the sidelines of the Sixth Partnership for Transatlantic Energy Cooperation (P-TEC) Summit in Athens, Greece. On behalf of Naftogaz, the Memorandum was signed by CEO Sergii Koretskyi, on the Greek side by Chairman of the Board of Atlantic-SEE LNG and simultaneously CEO of DEPA Commercial Konstantinos Xifaras, as well as Chairman and CEO of AKTOR Group Alexandros Exarchou. The signing ceremony was also attended by Ukraine’s Deputy Minister of Energy Svitlana Hrynchuk.

Detailed terms of supply and import volumes of American LNG to Ukraine through the Greek company will be defined later.

“It is a great honor for us to be part of this historic moment. Replacing Russian gas and ensuring long-term energy stability for Ukraine is a key achievement of this milestone. Thank you for this cooperation, and I look forward to fruitful and constructive collaboration in the future,” said Naftogaz CEO Sergii Koretskyi.

American LNG to Greece

Earlier, the new Greek company Atlantic-SEE LNG signed a long-term agreement with the American LNG producer Venture Global for the purchase of LNG from the United States. This is the first deal by a Greek company to purchase American LNG for the region.

The import volume will amount to 0.7 bcm per year starting from 2030. The contract term is 20 years, until 2050.

“Greece used to be at the end of an energy supply pipeline dominated by Russia. Today, Greece is becoming the starting point, the gateway to Europe for American energy trade,” said U.S. Secretary of Energy Chris Wright, pledging to maintain gas supplies to Ukraine this year.