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Venture Global, an American producer of liquefied natural gas (LNG) sourced from North American basins, has revealed a twofold LNG supply increase 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 fortify Central and Eastern European energy security.
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Venture Global and Atlantic-SEE LNG Trade have confirmed an expansion of their existing sales and purchase agreement (SPA) for the acquisition of U.S. LNG for 20 years starting in 2030, doubling the Greek firm’s existing contract from a minimum of 0.5 million tonnes per annum (mtpa) to 1 million tonnes per annum.
Alexandros Exarchou , CEO of Atlantic SEE LNG Trade, underlined: “The expansion of our commercial agreement with Venture Global reflects the ambition and solid ground 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 the transatlantic energy cooperation between Greece and the United States that will benefit the entire region. The geopolitical development has offered us the historic opportunity to operate as an energy hub between continents, 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 American LNG producer’s previously announced investment in regasification capacity at the Alexandroupolis LNG import terminal in Greece, which currently accounts for approximately 25% of the terminal’s total capacity.
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The Alexandroupolis LNG FSRU receiving terminal and South-North ‘Vertical Corridor’ are expected to be essential to enhancing Central and Eastern European energy security by providing a new route to bring affordable and reliable U.S. natural gas into the region.
Mike Sabel , Venture Global’s CEO, commented: “The Vertical Corridor has emerged as a vital energy hub for the region, and our continued investment in infrastructure such as the Alexandroupolis terminal is helping create new pathways for secure, 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 across both sides of the Atlantic whose support continues to strengthen transatlantic energy cooperation and expand access to U.S. LNG around the world.”
With over 100 mtpa of capacity in production, construction, or development, Venture Global began producing LNG from its first facility in 2022. The company’s vertically integrated business entails assets across the LNG supply chain, including LNG production, natural gas transport, shipping and regasification.
The firm’s first three projects, Calcasieu Pass , Plaquemines LNG , and CP2 LNG , are located in Louisiana along the Gulf of America (U.S. Gulf of Mexico). The U.S. player is developing carbon capture and sequestration (CCS) projects at each of its LNG facilities.
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Konstantinos Xifaras , Chairman of Atlantic SEE LNG Trade, emphasized: “Today’s agreement marks the successful transition from vision to action. By doubling the volumes secured under this agreement, we are creating a stronger foundation for reliable and predictable LNG supplies across the region, while translating strategic planning into concrete commercial outcomes.
“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.”
about 1 month ago
Venture Global, an American producer of liquefied natural gas (LNG) sourced from North American basins, has revealed a twofold LNG supply increase 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 Commer
