Atlantic SEE LNG Secures Regional Deals, Anchoring U.S. Gas

Key Moments

Regional LNG Contracts Cement Vertical Corridor Strategy

Atlantic SEE LNG Trade has concluded four long-term supply agreements with energy players across Southeast Europe, a development being framed as a significant advance in the region’s shifting energy landscape.

The contracts were finalized during a ministerial summit in Washington organized by the White House and the U.S. National Energy Dominance Council. They highlight how U.S. liquefied natural gas (LNG), once viewed as a supplementary source, is increasingly being woven into Europe’s core post-Russian supply framework.

Atlantic SEE LNG Trade is a joint venture owned 60% by Greece’s AKTOR Group and 40% by DEPA Commercial. In Washington, the company was represented by CEO Alexandros Exarchou, who also leads AKTOR Group.

Four-Country Network Under a Single Commercial Platform

The company signed long-term agreements with four parties from Southeast Europe and Ukraine:

These agreements secure defined LNG volumes over a multi-year period and position Atlantic SEE LNG Trade as a key commercial channel for U.S. LNG into the Vertical Gas Corridor.

The Vertical Gas Corridor connects Greek energy infrastructure with Bulgaria, Romania, Moldova and Ukraine, while also facilitating flows into the broader Western Balkans. The strategy focuses on transporting LNG imported through Greek terminals northward to Central and Southeastern European markets.

Earlier in January, Atlantic SEE LNG Trade executed its first regional deal: a U.S. LNG cargo sale to Ukraine, with BP as the supplier and Naftogaz as the buyer. That transaction marked the company’s initial commercial move in the regional gas market.

Political Backdrop: Diversification and Market Liberalization

The agreements were signed within a broader political framework that emphasizes diversification of supply and market openness.

Representatives from 13 European governments, including Greece, Poland, Lithuania and Ukraine, joined U.S. officials in backing a joint declaration aimed at broadening supply sources and improving transparency in gas trading. The document does not set binding numerical targets, but it seeks to pave the way for a more liquid market with fewer regulatory impediments.

The declaration also calls for public and private investment in new or upgraded LNG infrastructure in several European states, specifically naming Croatia, Greece, Lithuania and Poland.

An important component of the emerging framework is the planned integration of Ukraine’s gas storage facilities into the wider regional market. This is seen as a potential boost to supply security across Eastern Europe.

Greece Positions Itself as a Regional Energy Pivot

For Greece, the Washington summit offered an opportunity to reinforce its aspirations to function as a regional energy hub rather than simply a transit state.

Environment and Energy Minister Stavros Papastavrou presented the Vertical Corridor as a strategic decision that harnesses Greece’s location as an asset. Investments in floating storage and regasification units (FSRUs), cross-border interconnectors and commercial LNG agreements are intended to support Greece’s role as a decisive node shaping energy flows into Southeast Europe.

Greece, however, faces growing competition from other countries pursuing similar ambitions.

Poland is scaling up its gas infrastructure, including plans for a new FSRU in Gdansk on the Baltic Sea, to bolster its links to Central Europe. Lithuania continues to promote the Baltic route as an alternative supply corridor.

At the same time, Germany has agreed, through the Deutsche ReGas terminal, to route LNG cargoes supplied by TotalEnergies to Ukraine via Poland under an arrangement with Naftogaz.

As the number of supply paths increases, pricing competitiveness, transit tariffs and the ability to deliver infrastructure on schedule are becoming critical differentiators among competing routes.

In January, European LNG imports from the United States accounted for nearly 60% of total U.S. LNG exports, illustrating the magnitude of the ongoing transatlantic energy reorientation.

Industrial and Digital Projects Linked to the Energy Pivot

Discussions in Washington extended beyond LNG supply contracts, touching on shipbuilding and digital infrastructure linked to the energy transition.

An expected agreement between ONEX Shipyards and Technologies, which operates the Elefsina shipyards in Greece, and South Korea’s Hanwha Power Systems points to the role of shipbuilding in the regional energy strategy. LNG carriers and FSRUs are described as vital assets for any country seeking a sustained role as an energy hub.

Additional deals are anticipated in the near term, including potential U.S. financing for a second FSRU in Thrace to be developed by Gastrade.

In parallel, Public Power Corp. (PPC) CEO Giorgos Stassis is in talks with hyperscale technology companies regarding a proposed 300-megawatt Mega Data Center, with the option to expand to 1 gigawatt. Progress on this project is contingent on the conclusion of a binding agreement.

Summit Participation Highlights Broader Transatlantic Engagement

The ministerial summit in Washington was co-chaired by U.S. Interior Secretary and Energy Dominance Council head Doug Burgum and U.S. Energy Secretary Chris Wright. It assembled representatives from 22 governments, senior European Union officials and roughly 50 companies spanning the energy value chain.

Among the corporate participants were Chevron, ExxonMobil, Cheniere Energy, Berkshire Hathaway, Glencore, ConocoPhillips, S&P Global, Shell USA, Siemens Energy and Woodside Energy Group.

Transmission system operators were also present, including Bulgartransgaz, TotalEnergies, Orlen and Transgaz, underscoring the summit’s focus on infrastructure and cross-border connectivity.