Greece to create a corridor for US gas to Ukraine, taking over a Russian market

Agreements signed in Athens last week will send non-Russian gas to Ukraine and the region, and may produce Greek offshore gas in coming years

Gastrade’s ‘Alexandroupolis’, anchored offshore the city from which it took its name, is Greece’s second LNG import terminal after Revythousa (Courtesy Gastrade)

Greece and its neighbours in Southeast Europe signed an agreement in Athens on Friday [November 7] to enable imported Liquefied Natural Gas to reach Ukraine through Greece’s import terminals.

Russian attacks on Ukrainian gas wells, coal mines and power stations have taken a toll on the country’s ability to provide its own electricity and gas.

Ukraine currently imports electricity from Germany and gas through Poland. The agreement reached in Athens creates two alternative gas import routes, one through Greece, Bulgaria, Romania and Moldova, and another via Greece, Italy, Croatia, Hungary and Slovakia.

The latter route sent an important political message to the two EU members - Hungary and Slovakia - who have displayed the greatest attachment to Russian gas, assuring them that there will be an alternative supply.

“Ukraine needs about 3 bcm [billion cubic metres] of gas input [per year] for the next three years,” Maxim Timoshenko, CEO of Ukraine’s largest energy company, DTEK, told Hellenica.