Attention in Southeast Europe’s natural gas market shifts today to Amphitrite, as DESFA continues its annual capacity auction for Route 2 of the Vertical Gas Corridor, after exceptionally strong demand prevented the process from being completed during the first auction session.
The outcome is particularly significant for Alexandros Exarchou and the AKTOR–DEPA Commercial–Atlantic See LNG Trade consortium, which is positioning itself as one of the key players in supplying American LNG to the Balkans and Central and Eastern Europe.
Exarchou’s Strategic Energy Play
The consortium’s successful participation in the first auction represents the first tangible step in the strategy recently outlined by Alexandros Exarchou, CEO of Atlantic See LNG Trade, alongside the company’s Chairman Constantinos Xifaras.
The joint venture secured 13,000 MWh per day, equivalent to approximately 4.7 TWh annually, demonstrating its intention to become a major regional supplier of US liquefied natural gas through Greece.
According to AKTOR, the successful capacity booking sends a strong market signal that the consortium intends to conclude short-term commercial agreements for supplying LNG across Southeast Europe well before 2030.
The move reflects AKTOR’s broader expansion strategy beyond infrastructure and construction into regional energy trading and energy security.
Today’s Focus: Route 2 from Amphitrite
After the completion of Route 1 via Sidirokastro, today’s attention turns to Route 2, which begins at DESFA’s Amphitrite interconnection point, crosses the Greece–Bulgaria Interconnector (IGB) and continues through the Trans-Balkan Corridor.
Market sources say the auction had to be extended because of unexpectedly high competition among market participants, highlighting the growing commercial attractiveness of this export route.
By contrast, Route 3, which utilizes the Trans Adriatic Pipeline (TAP) through the Nea Mesimvria interconnection point, reportedly attracted little commercial interest.
Metlen Dominated the First Auction
The first auction session, covering Route 1, concluded with highly positive results.
A total of 40 GWh per day was booked, representing approximately 46% of the 87 GWh/day offered by DESFA.
Metlen emerged as the largest capacity holder, securing 20 GWh/day for five years through 2031.
DEPA Commercial, coordinated with Atlantic See LNG Trade, booked 13 GWh/day for four years until 2030, while another participant secured the remaining 7 GWh/day.
Greece Strengthens Its Position as a Regional Gas Hub
This year’s auction represents a significant evolution of the Vertical Gas Corridor.
For the first time, market participants can reserve annual transportation capacity across three fully integrated export routes, benefiting from multiple supply sources and improved commercial conditions.
The new framework allows gas traders to secure transmission capacity across every cross-border interconnection along the route, facilitating exports not only toward Ukraine but also to several countries across Southeast and Eastern Europe.
According to market sources, the capacity booked during the first auction is intended to serve a broad regional customer base rather than Ukraine alone.
DESFA Sees Strong Market Confidence
DESFA described the auction results as highly encouraging.
According to the Greek transmission system operator, more than 45% of the available export capacity has already been booked for the next four gas years.
Capacity reservations extend as far as the 2040/2041 gas year, underlining long-term confidence in Greece’s role as a strategic natural gas gateway for Southeast Europe.
The operator believes the results reinforce Greece’s growing importance in regional energy security and cross-border gas trade.
A Defining Moment for Regional LNG Trade
Today’s auction for Route 2 is expected to determine which energy companies will secure strategic access to one of Europe’s fastest-growing gas corridors.
For Alexandros Exarchou and the AKTOR-led consortium, success would further strengthen their ambition to transform Greece into a major gateway for American LNG exports into Southeast Europe and the wider European market, as the continent continues diversifying away from Russian natural gas.
Source: pagenews.gr