The US wants to sell American gas through the “Vertical Corridor” that passes through Romania. What does the Minister of Energy say?

Two American ambassadors stated, at the “The Economist: Romania Government Roundtable” conference, that the USA is interested in the “Vertical Corridor” project – the gas transport route that connects Greece with Bulgaria, Romania, Hungary, Slovakia, Moldova and Ukraine. “The route is a gateway for American liquefied natural gas (LNG),” they said from Bucharest the two American officials.

• In the last month, the price of gas on the TTF Amsterdam exchange, which is relevant to the European market, has doubled due to the conflict in Iran. At the end of February, the price of gas was 30-32 euros / MWh, currently oscillating between 60 and 70 euros / MWh.
• Under these conditions, some of the biggest winners from the conflict in Iran are American exporters of liquefied natural gas (LNG), a Euractiv analysis shows.
• The previous energy crisis was caused by Russia in 2021, following the reduction of gas supplies to Europe, being accentuated by the invasion of Ukraine in 2022. Europe has managed, in recent years, to get rid of Russian dependence, looking for new sources of supply, including liquefied gas from the US.
• The vertical European gas corridor is a set of pipelines and energy infrastructures that connect the south of Europe with the southeast and the center of the continent, in the direction of Greece, Bulgaria, Romania and further Hungary, Moldova and Ukraine.
• For Romania, American gas would mean a new source in addition to the gas that OMV Petrom and Romgaz are going to extract starting next year from the Black Sea.

The American ambassador: ​”Extraordinary potential”

​Darryl Nirenberg, the US ambassador to Romania, said on Tuesday, in the panel dedicated to the “Vertical Corridor” that “Romania has the potential to become a decisive factor in the field of energy security in Europe”.

He argues that the US sees “tremendous potential in the Vertical Corridor for access to new markets, including for liquefied natural gas (LNG), providing safe and reliable sources needed to support growing economies.”

“Across Europe and beyond, governments, investors and industry leaders are grappling with the question: how can stronger and more resilient links in transport, trade and energy be built? The Vertical Corridor directly addresses this challenge. It is more than just an infrastructure concept or a line on a map, it is a strategic pathway, able to strengthen connectivity on the north-south axis, diversify critical routes and strengthen the economic and energy security of the region as a whole. And this route goes right through Romania,” the ambassador said.

Kimberly Guilfoyle: The Vertical Corridor represents freedom

Kimberly Guilfoyle, the US ambassador to Greece, defined this project as a symbol of Western resilience. “By connecting LPG terminals from Greece to Romania, through Bulgaria and Moldova to Ukraine, this vertical corridor is more than infrastructure, it represents freedom,” said Guilfoyle.

The American official stated that “concrete actions are needed, we need companies here and other actors in the region to secure the energy chain of the United States. These are much more than simple trade arrangements. They are a strategic partnership with the United States that will support your energy security for decades to come.”

She also said that Russian gas continues to enter Europe “through the back door” and called for political will to completely stop imports by 2027.

“The United States is ready to supply European countries with LPG through projects like the Vertical Corridor. But we must face the facts: Russian gas continues to enter Europe through the back door, through third countries. Every cubic meter of Russian gas undermines our collective security. We need a commitment to stop these imports immediately and completely. This requires political will and regulation and, yes, difficult conversations with our neighbors. But half measures will not secure us the energy future. Energy security cannot be held hostage by bureaucratic inertia or private interests. We must remain committed to ensuring that Europe is no longer a prisoner of Moscow to keep the lights on,” said Kimberly Guilfoyle.

The United States is banking on a long-term partnership, estimating the processing of $750 billion in American energy by the end of 2028 to secure the European market.

What does the Romanian minister say?

Energy Minister Bogdan Ivan said that “dependence on a single source is no longer an option”.

“The Vertical Corridor is a strategic investment in the energy security of the region, initiated by Romania and developed together with our partners from the USA, Bulgaria and Greece. Liquefied natural gas (LNG) is an essential component for diversification and energy security. In short, we will have more supply routes, more security and, most importantly, better energy prices”, said the minister.

“We have to rely on our advantages, and strengthening the relationship with the United States is fundamental,” the Romanian official also stated.

Greece's Energy Minister announces new drilling in the Ionian Sea

Present at the event, Greek Energy Minister Stavros Papastavrou said he supported the Vertical Corridor and announced new exploratory drilling in the Ionian Sea by the end of the year.

“We need safe, reliable and affordable energy. This goal cannot be achieved by depending on a state that has turned energy into a tool of pressure,” the Greek official concluded.

The Vertical Corridor (with its ramifications that include as important points in Greece the port of Alexandroupoli, through which LNG is transported to the Greek-Bulgarian IGB pipeline, and the city of Komotini with the TAP pipeline, through which Azeri natural gas is also directed to the Greek-Bulgarian IGB gas pipeline) is a strategic priority for the US, being seen as a key tool for the export of American LNG to Central and Eastern Europe, the Greek press recently wrote.