Greece is actively strengthening its position as a key country for importing liquefied natural gas (LNG) to Europe, especially with the impending full ban on Russian gas imports that the European Union plans to implement by 2027. One of the main suppliers of LNG to the region is currently the United States of America.
This is reported by Finway
Infrastructure Modernization and Strategic Location
The Greek Minister of Environment and Energy, Stavros Papastavrou, emphasized that the process of moving away from Russian fossil fuels is complex and will not be automatic. Athens is betting on the country’s advantageous geographical location, increasing its capacity to receive LNG, and undertaking extensive modernization of its gas infrastructure.
“Separation from Russian fossil fuels will not happen by itself,” Papastavrou stressed.
Expansion of the Revithoussa Terminal and New Supply Routes
One of the key facilities for gas imports is the Revithoussa terminal, located near Athens. This terminal has recently undergone significant expansion and is already receiving shipments of liquefied gas from the United States. Further transportation of regasified gas is planned to countries in the Balkan region and Ukraine via the so-called “vertical corridor” – a supply system from south to north that allows for the diversification of energy sources for Europe. Additionally, existing routes are involved, such as the TAP pipeline and the interconnector between Greece and Bulgaria.
Despite ambitious plans, experts point out certain challenges for the implementation of this route. In particular, the commercial attractiveness of the route is diminished due to high cumulative transit tariffs and regulatory uncertainty in the market. However, in light of the upcoming ban on Russian gas imports, long-term interest in booking capacity at Greek terminals is increasing.