FT: Greece aims to replace Russia in European gas market

Greece intends to take Russia’s place in the European gas market, according to a report published by the Financial Times.

The country is positioning itself as Southern Europe’s gateway for liquefied natural gas (LNG) imports, primarily from the United States, as the European Union prepares for a full ban on Russian gas supplies by 2027.

Greece’s geographic location, expanded LNG production capacity, modernized infrastructure, and strong ties with Washington enable it to claim a key role in the European energy market once the Russian import ban comes into effect.

Greek Energy Minister Stavros Papastavrou has advocated for closer cooperation with the United States, framing energy as a crucial element of transatlantic relations amid rising tensions between Washington and Brussels.

Critics warn that Europe risks replacing one geopolitical dependence with another. In 2025, over 80% of Greece’s LNG imports already came from the United States.

The Financial Times notes that American LNG is more expensive than pre-war Russian pipeline gas and is subject to global price fluctuations, highlighting potential risks for European energy security.

By Khagan Isayev