Ukrainian state-owned oil and gas company Naftogaz has signed a letter of intent (LoI) with Greek natural gas company DEPA to import liquefied natural gas (LNG) from Greece.
The deal covers gas supply for the period December 2025–March 2026.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
This arrangement provides Ukraine with a means to secure gas after Russian strikes on its energy infrastructure and production facilities, reported Reuters.
Naftogaz stated: “Both operational and long-term arrangements have been reached with the Greek side.”
LNG will be transported through a pipeline involving the gas transmission system operators of five European countries, crossing the Balkan peninsula.
Naftogaz CEO Sergii Koretskyi said: “This partnership opens another reliable direction for imports for the upcoming winter.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“We are consistently and systematically expanding the geography of supplies to guarantee stable heating for Ukrainians and to strengthen the energy security of the entire region.
“I thank DEPA Commercial for their readiness to move forward together. Sincere gratitude to the President of Ukraine and the government for making this agreement possible.”
The LoI was signed during Ukrainian President Volodymyr Zelenskiy’s visit to Athens on Sunday.
Speaking alongside Greek Prime Minister Kyriakos Mitsotakis, Zelenskiy said: “Deliveries would begin in January.”
Before his visit to Greece, Zelenskiy stated that Kyiv had secured funding from European partners, banks under European Commission guarantees and Ukrainian banks to help cover nearly €2bn ($2.3bn) required for gas imports.
Zelenskiy added that Ukraine’s Government was also collaborating with US partners to secure full financing.
The agreement comes after Greece recently signed its first long-term contract with Washington to supply US LNG to Europe, starting in 2030.
Last month, the EU approved a ban on Russian LNG imports from 2027 in response to Moscow’s ongoing war in Ukraine.
