Venture Global, a US producer of LNG from North American basins, has revealed a double-digit increase in LNG supply in its two-decade-long arrangement with Greece’s Atlantic-SEE LNG Trade, a newly formed joint venture between Greek companies AKTOR Group and DEPA Commercial, to strengthen energy security in Central and Eastern Europe.
Venture Global and Atlantic-SEE LNG Trade have confirmed the expansion of the existing sale and purchase agreement (SPA) for the acquisition of US LNG for 20 years starting in 2030, doubling the Greek company’s current contract from a minimum of 0.5 million tonnes per annum (mtpa) to 1 mtpa.
Alexandros ExarchoAtlantic SEE LNG Trade CEO confirmed: “The expansion of our commercial agreement with Venture Global reflects the ambition and solid groundwork of our long-term strategic plan on LNG and the potential of the vertical corridor, which can provide alternatives and energy security across Central and Eastern Europe.
“It also highlights the growing importance of transatlantic energy cooperation between Greece and the United States that will benefit the entire region. Geopolitical development has provided us with a historic opportunity to serve as an intercontinental energy hub, and we aspire to build on this momentum and offer our customers long-term, sustainable and predictable energy safety.”
The expanded supply agreement follows the US LNG producer’s previously announced investment in regasification capacity Alexandroupolis LNG import terminal In Greece, which currently represents about 25% of the total plant capacity.
The Alexandroupolis LNG Receiving Terminal (FSRU) and the South-North vertical corridor are expected to be essential for strengthening Central and Eastern Europe. Energy security By providing a new route to bring affordable and reliable American natural gas to the region.
Mike SabelVenture Global CEO commented: “The vertical corridor has emerged as a vital energy hub in the region, and our continued investment in infrastructure such as the Alexandroupolis plant is helping to create new pathways for safe and reliable energy supply across Central and Eastern Europe.
“We are grateful for the leadership of President Trump, Secretary Burgum, Secretary Wright, Ambassador Guilfoyle, and officials on both sides of the Atlantic whose support continues to advance transatlantic energy cooperation and expand access to U.S. LNG around the world.”
With more than 100 million tons per year of capacity in production, construction or development, Venture Global began LNG production from its first facility in 2022. The company’s vertically integrated business entails assets across the LNG supply chain, including LNG production, natural gas transportation, shipping and regasification.
The company’s first three projects, Calcasieu Pass, Plaquemines LNGand CP2 LNGIt is located in Louisiana along the Gulf of America (US Gulf of Mexico). The US player is developing carbon capture and sequestration (CCS) projects at each of its LNG facilities.
Konstantinos ShivarasThe President of Atlantic SEE LNG Trade stressed: “Today’s agreement represents the successful transition from vision to action. By doubling the volumes guaranteed under this agreement, we are creating a stronger foundation for reliable and predictable LNG supplies across the region, while translating strategic planning into tangible commercial results.”
“This agreement reflects the value of long-term partnerships and reinforces the growing role of transatlantic energy cooperation in supporting regional energy security and resilience.”
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