Atlantic SEE LNG Trade Secures €130M Financing for Southeast Europe Expansion
Atlantic SEE LNG Trade has secured €130 million in guarantees from Greece’s four systemic banks to support LNG operations and procurement. This development marks a transition from planning to execution amid increasing regional demand for diversified gas supplies, driven by efforts to reduce reliance on Russian energy imports.
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Atlantic SEE LNG Trade, a joint venture between DEPA Commercial and AKTOR Group, has received €130 million in bank guarantees for LNG trading expansion in Southeast Europe. The financing will support commercial operations and a 20-year supply agreement with Venture Global, ensuring a minimum delivery of 500,000 metric tons of LNG annually, with potential increases to 1.5 million tons.
DEPA holds a 40% stake, equating to approximately €52 million in exposure, while AKTOR, with 60%, is responsible for around €78 million. The guarantee raises DEPA's total exposure to nearly €487 million, nearing its equity base. However, the financing structure is considered conservative compared to standard international LNG transactions, lacking additional protections often sought by lenders.
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