Greece is actively positioning itself as a central LNG hub for central and southeastern Europe, capitalizing on its strategic location at the crossroads of the Balkans and eastern Mediterranean as the continent accelerates its phaseout of Russian energy supplies.
Prime Minister Kyriakos Mitsotakis highlighted this shift during a Bloomberg event in Athens on March 17, 2026, stating that Greece has transformed “from a country which was sitting on the periphery of the European energy system into a core player when it comes to southeastern Europe.” He emphasized Greece’s growing role in facilitating LNG imports and transit amid the EU’s push toward a full ban on Russian gas by late 2027.
Key to this ambition are Greece’s two operational LNG facilities:
- The longstanding Revithoussa terminal (west of Athens), with expanded capacity of around 5-6.5 billion cubic meters (bcm) per year, seeing near-full bookings through 2040 by major players like Metlen, DEPA, PPC, Enerwave, and Heron.
- The Alexandroupolis FSRU (Floating Storage and Regasification Unit), which began commercial operations in October 2024 and adds 5.5 bcm annually—equivalent to 50-55 tanker deliveries—already supplying gas to Greece and onward to Europe via pipelines.
These assets feed into the Vertical Corridor pipeline network, linking Revithoussa and Alexandroupolis northward through Bulgaria and Romania, with potential extensions to Moldova, Ukraine, Hungary, and Slovakia. This corridor enables re-export of regasified LNG (primarily from the U.S., which dominates EU imports) to landlocked or diversification-seeking neighbors.
Recent developments bolster the push:
- Greek companies, including joint ventures like Atlantic Sea LNG Trade (DEPA and Aktor), are pursuing long-term U.S. LNG deals (up to 15 bcm annually over 20 years) for southern Europe supply.
- Plans for a second FSRU at Alexandroupolis (FSRU Thrace), with environmental approval secured and potential U.S. financing from EXIM and the International Development Finance Corporation, aim to double northern capacity by around 2028-2030.
- High-level U.S.-Greece ties, including recent deals and Washington events, underscore geopolitical support for Greece as a secure gateway.
Hellenic Energy CEO Andreas Shiamishis noted at the Bloomberg event: “The use of LNG is picking up pace and making up a much larger share of supply in our region, and Greece has become a hub.”
While competitors like Poland, Croatia, and Lithuania build their own LNG infrastructure, Greece’s geography, existing assets, and the Vertical Corridor give it a strong southern entry point claim. However, challenges remain: volatile global LNG prices, potential overcapacity as renewables grow, and weak short-term demand in some corridor auctions.
This strategy aligns with broader EU efforts for energy security and diversification, reshaping Europe’s gas map away from Russian pipelines toward flexible, seaborne U.S. and global LNG flows through Greek gateways.
