Venture Global Seals 20-Year U.S. LNG Supply Deal With Greece Starting in 2030

Overview

• Atlantic-See LNG, a new joint venture of AKTOR and DEPA, signed a sales and purchase agreement to buy at least 0.5 million tonnes per year.
• Venture Global says this is Greece’s first long-term LNG supply agreement with a U.S. exporter.
• The 20-year contract begins in 2030 and includes an option to increase the committed volumes.
• The deal builds on Venture Global’s reservation of 1 mtpa of regasification capacity at the Alexandroupolis FSRU, roughly a quarter of the terminal’s capacity.
• The announcement comes as Greece sees renewed upstream interest, with ExxonMobil acquiring a stake in the Ionian Sea’s Block 2.