Venture Global announced today a binding agreement for the regasification of liquefied natural gas and its sale in the markets of Central and Eastern Europe through GASTRADE’s floating unit in Alexandroupoli.

The agreement concerns the disposal of 1 million tons per year for five years from 2025, a quantity corresponding to 25% of the total capacity of the Alexandroupoli terminal.

The liquefied natural gas will come from Venture Global’s terminals in Louisiana, USA.

As pointed out in the announcement, the new Alexandroupoli terminal and the “Vertical Corridor” will be vital to strengthening the energy security of Central and Eastern Europe, providing a new route for the introduction of alternative natural gas supplies to the region.

“Venture Global is excited to expand our regasification capacity in Europe through the new Alexandroupoli LNG terminal in Greece,” said the company’s CEO, Mike Sabel.

“This move further strengthens our business by growing our assets along the LNG supply chain, including LNG production, shipping and regasification. As a major entry point for LNG in Central and Eastern Europe, this strategically important infrastructure will be critical to the region’s ability to diversify its energy and access secure and reliable energy supplies.”