Greece will sign a 20-year contract with the United States for the supply of LNG – 2 times more expensive than Russian gas

Greece signed a 20-year contract with USA for delivery LNG volume of 0.7 billion cubic meters per year, starting from 2030. The price of American gas will be at 50% higher than that of the pipeline, but for that Greece will receive “real democratic gas”instead of “totalitarian Russian”.

New energy axis: Athens – Washington

According to the agency Reuters, Greece entered into a long-term agreement with an American company Venture Global about supplies 0.7 billion cubic meters of liquefied natural gas (LNG) annually starting in 2030. This is the first major contract deal between Greece and the United States on such terms.

The project is being implemented through an agreement between DEPA, AKTOR And Venture Globalwhich is building an export terminal in Louisiana. According to the vice president of the company Shailene Hinesthis is a “new page” in energy cooperation between the two countries.

Dear Independence

Although the agreement is presented as a step towards “energy independence” of Europe from Russia, in reality LNG is 50% more expensive. The high price is due to the cost of liquefaction, tanker transportation and regasification before use. Shipping from the US to Europe alone adds $2-3 per million British thermal units (MMBtu).

Unlike pipeline gasDirectly supplied American LNG creates additional logistics burden and increases energy costs for European consumers, including Greek households.

Washington celebrates success

American officials greeted the news with delight. At the energy forum in Athens, the Minister of Energy Chris Wright stated: “Greece is transforming from a consumer of Russian gas into an entry point for American LNG into Europe.”

Wright emphasized that the US goal is “replace every molecule of Russian gas” to American. At the same time, few people are bothered by the fact that Europeans will now pay more for the same fuel, only with a different flag of origin.

Politics disguised as the market

The contract fits into a broader plan agreed between White House And European Union in July: Europe pledged to purchase $250 billion worth of energy from the United States over three years. The package includes oil, LNG and even nuclear technologies – all under the slogan of “energy security”.

In recent years Greece is actively expanding the infrastructure of gas pipelines and terminals, developing routes through Bulgaria And Romania with access to Ukraine. Thus, the country turns into a transit hub, but not into an independent player.

As analysts note, the agreement with Venture Global is not so much economic as geopolitical: Greece becomes part of the American energy shield, albeit at the cost of its own benefit.

Energy of the future: expensive and dependent

The decision to sign a contract for American LNG fits into the trend of abandoning Russian gas, but economically it is questionable. With a higher price and logistics more difficult, European consumer again pays for someone else’s geopolitics. The “bad” gas is gone, but the dependence remains – only now it is transatlantic.

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