The energy agreement between Greece and Ukraine was signed at the Maximos Mansion in the presence of Greek Prime Minister Kyriakos Mitsotakis, Ukrainian President Volodymyr Zelensky, and U.S. Ambassador Kimberly Guilfoyle.
The signing of the Memorandum of Intent between DEPA Commercial and Naftogaz for the supply of U.S. LNG to Ukraine, from December 2025 to March 2026, represents a critical contribution to regional and European energy security and resilience, while supporting Ukraine during a challenging winter. Greece’s key energy infrastructure ensures stable natural gas flows along the Vertical Corridor.
The agreement was signed by the responsible ministers of Greece and Ukraine, with the U.S. Ambassador present.
Greek Prime Minister Kyriakos Mitsotakis and Ukrainian President Volodymyr Zelenskiy stand behind representatives of the Greek gas supplier DEPA and Ukrainian gas supplier Naftogaz, as they sign an energy agreement, in Athens, Greece, November 16, 2025. REUTERS/Louisa Gouliamaki
Key Provisions of the DEPA Commercial – Naftogaz Agreement
DEPA Commercial and Naftogaz signed a Memorandum of Intent for the supply of natural gas to Ukraine for the winter period, from December 2025 to March 2026, marking a significant step in strengthening regional energy cooperation and European energy security.
The agreement provides for the transfer of liquefied natural gas (LNG) from the United States via “Route 1,” jointly managed by the Transmission System Operators (TSOs) of Greece (DESFA), Bulgaria (Bulgartransgaz), Romania (Transgaz), Moldova (VestMoldTransgaz), and Ukraine (GTSOU).
Through this agreement, DEPA Commercial and Naftogaz combine their efforts in a highly competitive and evolving European energy market, where energy solidarity and Greece’s critical infrastructure enhance regional energy security and ensure stable gas flows along the Vertical Corridor.
Ukrainian President Volodymyr Zelenskiy meets with Greek President Constantine Tassoulas, at the Presidential Palace in Athens, Greece, November 16, 2025. REUTERS/Louiza Vradi
DEPA Commercial CEO Konstantinos Xifaras stated: “Today’s signing of the Memorandum of Intent between DEPA Commercial and Naftogaz represents a substantial contribution to regional energy cooperation and market integration at a critical moment. Delivering natural gas to Ukraine through a reliable multinational corridor serves as an ‘energy bridge’ between Greece and Ukraine, supporting Europe’s broader energy resilience. The supply of U.S. LNG will be carried out via ATLANTIC – SEE, in which DEPA holds a 40% stake, reflecting DEPA’s commitment to providing practical and secure energy solutions across Southeastern Europe.”
Naftogaz CEO Sergii Koretskyi added: “This agreement opens another reliable import route for the upcoming winter. We are steadily expanding the geography of our supplies to ensure reliable heating for Ukrainians and strengthen the region’s energy security. I thank DEPA Commercial for its readiness to proceed together and sincerely appreciate the President of Ukraine and the Government for making this agreement possible.”
About the Companies
Naftogaz Group is Ukraine’s leading vertically integrated energy company and a cornerstone of the country’s energy security. Its portfolio includes gas and oil exploration and production, transmission and storage, wholesale and retail supply, and electricity and heat generation. The company emphasizes source and route diversification, utilizing pipelines and storage facilities through Ukrtransgaz, and Naftogaz Trading actively participates in international gas markets, both short- and long-term. Naftogaz also invests in renewable energy, including solar, small-scale LNG, green hydrogen, and biomethane, strengthening Ukraine’s role as a reliable energy hub.
DEPA Commercial is one of Greece’s most modern and integrated energy groups, playing a central role in the domestic energy market and national energy security. Its portfolio includes natural gas supply and trading, electricity, power generation, renewables, and alternative fuels such as hydrogen, biomethane, and small-scale LNG. Through the new ATLANTIC – SEE LNG TRADE joint venture, DEPA strengthens regional LNG trading and energy interconnections while investing in electricity generation and the green transition, shaping Greece’s energy future.