Central and Eastern European countries are strengthening cooperation to expand the transportation capacity of Azerbaijani gas in the region, APA-Economics reports, citing S&P Global Energy.
Countries in the region are seeking to increase transport capacity within the framework of the “Vertical Gas Corridor” initiative. The goal is to deliver larger volumes of regasified liquefied natural gas (LNG) via terminals in Greece and Türkiye, as well as pipeline gas supplied from Azerbaijan, to Central and Eastern Europe, including Ukraine.
It was noted that Atlantic SEE LNG Trade, whose main shareholder is the Greek infrastructure company AKTOR Group, has signed four memoranda on the supply of US LNG to Southeast European countries. The agreements were concluded with Bulgaria’s Bulgargaz (1.5 billion cubic meters per year), Ukraine’s Naftogaz (1 billion cubic meters), Albania’s Ministry of Infrastructure and Energy (up to 1 billion cubic meters per year), and Bosnia and Herzegovina’s Aluminij Industries and MT Abraham Group (0.5 billion cubic meters). The contracts are planned for a duration of up to 20 years.
Atlantic SEE was established last year by AKTOR Group (60%) and Greece’s gas and LNG importer DEPA (40%). The company announced in November that it had signed a 20-year LNG offtake agreement with US exporter Venture Global. Under the agreement, at least 500,000 tons of LNG will be supplied annually starting from 2030, with the possibility of increasing volumes.
According to S&P Global Energy, of the approximately 106 million tons of LNG imported into the European Union in 2025, 2.3 million tons entered via Greece. About 2 million tons of this volume were of US origin.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on TikTok
Follow us on Facebook
Follow us on X
