Greece Pushes LNG Hub Role in Europe’s Post-Russian Gas Era

Kyriakos Mitsotakis on March 17. Photographer: Yorgos Karahalis/Bloomberg Photo by Yorgos Karahalis /Bloomberg

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(Bloomberg) — Greece is positioning itself as a key gas hub for central and southeastern Europe as the continent moves toward a full phaseout of Russian energy, Prime Minister Kyriakos Mitsotakis said.

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The country has shifted from “a country which was sitting on the periphery of the European energy system into a core player when it comes to southeastern Europe,” Mitsotakis said at a Bloomberg event in Athens.

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Europe has been pushing to replace Russian pipeline gas with liquefied natural gas following Russia’s invasion of Ukraine, reshaping supply routes and boosting the role of transit nations. While Greece’s location at the crossroads of the Balkans and eastern Mediterranean makes it a key LNG entry point, countries such as Poland, Croatia and Lithuania are also building out their own import capacity.

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Backed by the government, gas-grid operator Desfa SA is advancing the so-called Vertical Gas Corridor, a project aimed at linking Greece’s network with those in countries including Romania and Ukraine and boosting regional transport capacity.

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The company inaugurated a new compressor station in northern Greece in November, enabling higher LNG imports and increasing export capacity to neighboring markets.

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The expansion has already allowed Greece to supply gas to Ukraine during periods of acute strain, Mitsotakis said, positioning the country as a provider of energy security across southeastern Europe. It also “ties us geopolitically with the US,” he said.

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The US was Greece’s main LNG supplier in 2025, with imports reaching 26.56 terawatt-hours, nearly double the previous year and accounting for more than 86% of total volumes. The growing role of LNG is reinforcing Greece’s position in the regional gas market, industry executives said.

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“The use of LNG is picking up pace and making up a much larger share of supply in our region, and Greece has become a hub,” Helleniq Energy Holdings SA Chief Executive Officer Andreas Shiamishis said at the event. There is room for a third LNG import facility in the country, he added.

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Helleniq Energy is developing a floating storage and regasification unit in Thessaloniki, with a final investment decision expected in 2026. Greece already operates import infrastructure at Revithoussa near Athens and an FSRU off Alexandroupolis.

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Beyond gas, executives pointed to a wider opportunity for Greece to position itself as a regional energy hub as Europe accelerates its transition.

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“We’re in the heart of the energy transition in the region and we can have the best returns,” said Georgios Stassis, chief executive of Public Power Corp., which operates in Greece, Romania, North Macedonia, Italy and Bulgaria.