Full Breakdown
Ukraine Seeks Increased LNG and Diesel Supplies via Greece
3/31/2026, 11:47:18 PM
Strategic Energy Partnerships
On March 30, 2023, Ukrainian energy company Naftogaz announced its intention to enhance liquefied natural gas (LNG) supplies through Greek terminals as part of a broader strategy to build up gas reserves for the upcoming winter. This initiative is facilitated by the Vertical Gas Corridor, a collaborative infrastructure project established in 2016 among Greece, Bulgaria, Romania, and Hungary, aimed at enabling bi-directional gas transmission among these nations.
Naftogaz CEO Serhiy Koretskyi emphasized the importance of increasing gas supply volumes for both Ukraine and the Eastern European region during a meeting with Greek Deputy Foreign Minister Harry Theoharis. The discussions also encompassed the potential for diesel fuel supplies and the utilization of the Greek fleet for mutual benefit.
Current Energy Landscape
Following extensive Russian missile strikes that severely damaged Ukraine's domestic refining capacity, the country has become heavily reliant on imported fuel. As a result, Ukraine has been sourcing fuel from various regions, including western, central, and southern Europe. According to the Kyiv-based Enkorr fuel consultancy, Ukraine has ramped up its diesel fuel imports, and analysts predict that the country will not experience a fuel shortage in April 2023.
In March, Naftogaz is expected to import at least 75 million cubic meters of gas via the Vertical Corridor from LNG terminals in Greece, with projections indicating an average import rate of 2.41 million cubic meters per day from Greece's Revithoussa LNG terminal. These imports are being facilitated at specially reduced transport rates.
Official Statements & Responses
Naftogaz's efforts to secure increased LNG and diesel supplies reflect a strategic response to the ongoing energy crisis exacerbated by the conflict with Russia. The discussions with Greek officials highlight Ukraine's proactive approach to diversifying its energy sources and enhancing regional cooperation in energy security.
Criticism & Opposition
While the initiative to increase LNG supplies is seen as a positive step for energy security, some critics argue that reliance on imported fuels may not be sustainable in the long term. Concerns have been raised regarding the environmental impact of increased LNG imports and the potential for geopolitical vulnerabilities associated with dependency on foreign energy sources.
What's Next
As Ukraine continues to navigate its energy challenges, the focus will remain on strengthening partnerships with neighboring countries and ensuring a stable supply of energy resources. The outcomes of ongoing discussions with Greece and other regional partners will be critical in shaping Ukraine's energy landscape in the coming months.
