An article on the AKTOR – DEPA deal with Venture Global for LNG transportation was published by Reuters, saying Greece has signed a deal to import 0.7 billion of LNG. cubic meters of liquefied natural gas (LNG) per year from 2030, marking the first long-term contract to supply U.S. natural gas. The move is part of Europe’s strategy to replace Russian gas, it adds.

The 20-year contract follows an agreement signed in July by the US president’s administration and the European Union under which Europe pledged to buy $250 billion worth of US energy annually – including oil, LNG, and nuclear technology – for the next three years, seeking to completely end Russian gas supplies by 2027.

The LNG supply will be carried out through an agreement between DEPA Emporia, AKTOR, and U.S.-based Venture Global, which is building an LNG export facility in Louisiana, the company’s senior vice president, Shaylin Hines, told Reuters.

U.S. officials welcomed the deal during an energy conference in Athens, stressing that the U.S. goal is to “replace every molecule of Russian gas” entering Western Europe in the coming years.

“Greece was at the end of an energy system dominated by Russia. Today, it is becoming an entry point for American gas into the European market,” US Energy Secretary Chris Wright told a news conference in Athens.

Cris Ry Ryatt, who is a member of the European Commission, said in Athens in a press conference in Athens.
In recent years, Greece has increased LNG imports from the US, while expanding its natural gas infrastructure and supporting the transportation of fuel through the pipeline that crosses Bulgaria and Romania to its final destination in Ukraine, strengthening its role as a transit hub in the region.

Wright stressed that the US intends to ensure that Ukraine continues to receive sufficient quantities of natural gas through the year, the article concludes.