Naftogaz Secures Greek, Polish Partnerships to Import US LNG

Ukraine’s state-owned Naftogaz Group has signed separate agreements with Poland’s state-owned ORLEN SA and a new Greek company for the importation of liquefied natural gas (LNG) produced in the United States into Ukraine and other European countries.

Naftogaz and Atlantic-See LNG Trade SA, formed last week by Greece’s Aktor Group and DEPA Commercial SMSA, “agreed to jointly develop the supply of LNG from the U.S. to Europe and Ukraine through Greek LNG terminals and the Vertical Corridor”, Naftogaz said in a statement on its website.

“This long-term partnership extends through 2050 and will enable the phased implementation of new strategic projects: ensuring stable long-term LNG supplies for Ukraine; integrating Ukraine’s infrastructure into Europe’s LNG logistics routes; creating a sustainable system for the storage and supply of U.S. LNG”.

Proposed Flows via Vertical Corridor

Concurrently gas transmission system operators (TSOs) that are part of the Vertical Corridor, a network of existing gas infrastructure allowing the multidirectional flow of gas across seven European countries, signed a joint letter requesting that regulators in Bulgaria, Greece, Moldova, Romania and Ukraine approve more flows via two routes.

“TSOs request the regulators’ approval on the availability of Routes 2 and 3 until April 2026; and the possibility of simultaneous provision of Route 1, Route 2 and Route 3 special capacity products in competing auctions”, said a statement posted on DESFA’s website.

“All participating TSOs have agreed to apply significant discounts – ranging from 25 percent to 50 percent across their interconnection points, to encourage market use of the new capacity and facilitate diversified gas flows. The coordinated tariff reductions and the availability of multiple route options will help mitigate potential disruptions, support uninterrupted deliveries to Ukraine, and ensure the most efficient use of existing infrastructure across the region.

“The TSOs underline that as identified by the European Commission, the Trans-Balkan corridor, part of the Vertical Corridor, is a key component of the EU’s strategy to diversify gas transportation and phaseout reliance on Russian gas. Approving the availability of Routes 2 and 3 is directly in line with this strategy, as it leverages LNG and Caspian gas to reinforce long-term energy security and market integration”.

Route 2 would start at the Amfitriti interconnection point on the DESFA grid, cross the Greece-Bulgaria interconnector (ICGB) and continue through the Trans-Balkan corridor. Route 3 would originate at the ICGB pipeline’s interconnection point with TAP and continue through the same path, according to the statement.

“Faster approval of these additional products will significantly enhance the potential for LNG to reach Ukraine via Greek terminals, strengthening energy security and enabling traders to select the optimal supply routes based on their needs”, the statement said.

The plea was made by Bulgaria’s Bulgartransgaz EAD, Greece’s DESFA SA, Moldova’s Vestmoldtransgaz SRL, Romania’s Transgaz SA, the Gas TSO of Ukraine and ICGB AD, the independent operator of the Greece-Bulgaria Interconnector.

Venture Global Supply

Separately U.S.-based LNG producer Venture Global Inc announced an agreement to supply Atlantic-See LNG at least 500,000 metric tons per annum of LNG for 20 years from 2030.

“Under the SPA, Atlantic-See has the potential to expand its purchase commitment”, Venture Global said in a press release.

“This deal marks Greece’s first-ever long-term LNG supply agreement with a U.S. exporter, launching a dynamic and growing partnership between Atlantic-See LNG and Venture Global”, Venture Global added.

On September 17, 2024, Venture Global announced an agreement giving it one million metric tons a year of regasification capacity at Greece’s Alexandroupolis LNG receiving terminal, part of the Vertical Corridor.

More LNG for Ukraine via ORLEN

Naftogaz also signed a preliminary agreement with ORLEN under which the Polish company will deliver 300 million cubic meters (10.59 billion cubic feet) of U.S. LNG to Ukraine in the first quarter of 2026.

Naftogaz said in a statement it had already contracted about 450 million cubic meters of US LNG from ORLEN in 2025.

The new agreement “opens the door to further initiatives of this type, which could support other countries in Central and Eastern Europe”, Polish Energy Minister Milosz Motyka was quoted as saying in a statement issued by ORLEN.

Along with the additional LNG volumes, “[O]ur partners together with Poland’s export credit agency KUKE are providing us with a credit facility for post-payment of delivered volumes, which helps to cover the current liquidity gap”, said Naftogaz chief executive Sergii Koretskyi.

The new agreements between Naftogaz and Atlantic-See LNG and ORLEN, as well as the joint letter by the Vertical Corridor TSOs, were signed at the Partnership for Transatlantic Energy Cooperation summit between Central and Eastern European countries and the United States.

To contact the author, email jov.onsat@rigzone.com