Greece, Turkey, and Romania compete for European gas market share

Greece is positioning itself to capture a larger share of energy supplies for Central and Southeast Europe as Russian gas supplies are expected to cease entirely by 2027. The country is leveraging its expanding infrastructure, including pipelines and LNG terminals, through the Vertical Corridor project.

Greece faces significant competition from Turkey, which possesses an extensive infrastructure network and a diversified supply portfolio. Turkey has the capacity to mix American LNG with Russian gas, a factor identified as a major risk to the Vertical Corridor.

Romania plays a complex role in this energy landscape. While it is a vital component of the Vertical Corridor for transporting non-Russian gas to Moldova, Ukraine, Hungary, and Slovakia, it also acts as a competitor. Romania aims to fill the regional energy gap using its Neptun Deep Black Sea gas field, which is projected to begin commercial operations in 2027.