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LNG Infrastructure Greece Trade Development

Greece Energy and the Vertical Corridor Connects U.S. LNG to Europe

Overview

As the Vertical Energy Corridor through Greece, Bulgaria, Romania, Hungary, Slovakia, Moldova, and Ukraine, Greece is playing an increasingly critical role as the entry point for U.S. LNG into Europe. The energy corridor, which enables bidirectional, high‑capacity gas flows from the Aegean to Central and Eastern Europe, will facilitate the expansion of LNG import capacity through upgraded northbound pipeline infrastructure. 

For U.S. LNG exporters, this corridor will create a commercially viable and competitive pathway to reach markets that previously depended on Russian pipeline gas.  

Greece seeks to become a regional energy hub with LNG infrastructure capacity of over 12 bcma:

  •  Alexandroupoli FSRU (5.5 bcma) – Strategically located terminal near the Bulgarian border, designed to feed the Vertical Corridor northward.
  • Revithoussa LNG Terminal (7 bcma) – Greece’s flagship LNG terminal near Athens, with deepwater access and high send‑out rates.
  • Additional FSRU sites currently under discussion, including the Dioriga Gas FSRU, Volos FSRU, and Thessaloniki FSRU, as well as the Kavala Underground Gas Storage project, are part of Greece’s planning to further increase regasification capacity and system flexibility.

The United States is Greece’s leading LNG supplier:

  • Over 60-70% of Greece’s LNG imports in 2024 were U.S. cargoes, valued at approximately $1 billion.
  • U.S. LNG accounted for the majority of spot and term deliveries to both terminals.
  • This trend is expected to continue as European buyers seek flexible, non‑Russian supply and as Greece expands its role as a regional energy hub.
  • The Atlantic SEE - Venture Global agreement further strengthens U.S. LNG’s commercial presence in the region. Venture Global Agreement  

Key developments:

  • The European Union and regional Transmission System Operators (TSOs) have agreed on harmonized tariffs to make the corridor more competitive.
  • The European Union continues to prioritize the phase out of Russian gas by 2027 under its REPowerEU strategy, which calls for diversified supply, expanded LNG imports, and stronger regional interconnections.
  • Greece and the United States are coordinating closely to ensure the corridor can accommodate increased U.S. LNG volumes. 
  • Greek and foreign financial institutions identify the Vertical Corridor as central to Europe’s long‑term energy security.
  • The success of the 2025 PTEC conference significantly advanced Greek-U.S. bilateral cooperation on energy diversification for Europe, reinforcing the strategic role of U.S. LNG in the region.

Why Greece Matters

  • Strategic Location: Greece offers direct LNG access to the Balkans and the Trans‑Balkan Pipeline system.
  • Infrastructure developments: Combined regasification capacity of over 12 bcma supports significant U.S. LNG quantities, with active planning on increasing regasification capacity.
  • U.S.-Greece energy alignment: The Greek and U.S. governments are aligned on leveraging the Vertical Corridor to facilitate increased U.S. LNG as a diversification tool for the broader region.
  • Commercial competitiveness: New tariff agreements and upgraded compressor stations improve northbound flows.

Opportunities for U.S. LNG Exporters

  • Long‑term supply agreements with regional offtakers for aggregate demand
  • Spot and short‑term cargo sales into Revithoussa and Alexandroupoli
  • Participation in capacity auctions for the Vertical Corridor
  • Partnerships with gas offtakers and transmission operators
  • Expansion of U.S. LNG presence in the region

To learn more about these projects or other opportunities in Greece, please contact U.S. Embassy to Greece’s Infrastructure and Energy Specialist Irini Karajani.