Greece’s new deals to import U.S. LNG for reexport to Central and Eastern Europe will “reshape the energy future of Europe,” strengthen Greek-American ties and boost Greece’s geopolitical role, Deputy Prime Minister Kostis Hatzidakis recently told Bloomberg.
With Europe moving toward a full ban on Russian natural gas, Greece aims to become a regional hub while Ukraine scrambles to replace lost production. Hatzidakis also highlighted Greece’s economic turnaround as its finance minister seeks the Eurogroup presidency.
The comments come roughly a month after Greece agreed to buy at least 700 million cubic meters of U.S. LNG annually for 20 years from Venture Global—its first long-term supply deal.
Most U.S. LNG to Greece already ships from Louisiana export terminals. The majority of Venture Global’s export facilities, including Calcasieu Pass LNG Terminal, Plaquemines LNG Terminal, and CP2 LNG Project, are on the Louisiana coast, making the state a central hub for its LNG exports.
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