Greece’s DEPA to supply US LNG to Ukraine’s Naftogaz

Greece's DEPA will supply US liquefied natural gas (LNG) cargoes to Ukraine's Naftogaz under a newly signed preliminary deal.

According to a statement by DEPA, the two state-owned firms signed a letter on November 16 to supply natural gas to Ukraine’s market for the winter period between December 2025 and March 2026.

Under the framework of the prospective agreement, LNG volumes originating from the United States are expected to be transported through “Route 1”, offered jointly by the gas transmission system operators of Greece (DESFA), Bulgaria (Bulgartransgaz), Romania (Transgaz), Moldova (VestMoldTransgaz), and Ukraine (GTSOU).

Moreover, DEPA said the supply of US LNG will be facilitated through Atlantic–See, in which DEPA holds a 40 percent stake and Aktor holds 60 percent.

The JV recently signed a sales and purchase deal with US LNG exporter Venture Global LNG.

This deal marks Greece’s first-ever long-term LNG supply agreement with a US exporter.

Under the SPA, Atlantic–See will purchase a minimum of 0.5 million tonnes per annum (mtpa) of US LNG from Venture Global for twenty years starting in 2030.

In addition to this deal with DEPA, Naftogaz recently signed a letter of intent with Poland’s Orlen to receive more US LNG cargoes from the latter.

Under the signed letter of intent, Orlen will supply three LNG cargoes, equivalent to over 300 billion cubic feet (bcf) of gas, from the US in the first quarter of 2026.

Orlen said it will deliver the shipments to one of the two terminals where the company holds capacity reservations, where the supplies will be regasified and transmitted via pipeline to Ukraine.

In March, the two firms signed a cooperation deal under which Orlen delivered LNG cargoes to the FSRU-based terminal in Lithuania’s Klaipeda and the Swinoujscie terminal in Poland.

Under this deal, more than 600 million cubic metres of gas will be delivered to Ukraine this year.

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