The EU has moved into action and developed a special plan, proving it hasn’t lost its ability to accelerate where needed, sharpen its reflexes, and function as a decision-making center. The REPowerEU regulation on natural gas was interpreted as a “revolution” in the Old Continent’s energy policy, establishing a binding legal framework for the complete termination of Russian natural gas imports by 2027.
After four years of intense Russian bombardments against Ukraine, the Old Continent has set a specific timeline for independence from Russian energy, while Greece’s pivotal role in the global energy map is emerging as crucial – something the US had previously emphasized, as our country will be upgraded through the Vertical Corridor and simultaneously serve as the gateway for American natural gas into eastern and central Europe.
It should be noted that at the end of last year, MEPs approved the gradual ban on imports of liquefied natural gas and pipeline natural gas. MEPs further insisted on stricter conditions for any potential temporary suspension of the import ban, which would be activated in emergency cases concerning EU energy security. To cover any legal gaps and limit the risk of rule circumvention, operators will be required to provide customs authorities with more detailed and strict information regarding the country of origin of natural gas before its import or storage.
REPowerEU: What the new EU regulation on Russian natural gas provides
The regulation provides a specific and graduated timetable of bans: From April 25, 2026, short-term contracts for importing liquefied natural gas (LNG) are banned. From June 17, 2026, short-term contracts for pipeline natural gas are banned. From January 1, 2027, long-term LNG import contracts are banned. From September 30, 2027, natural gas imports through pipelines under long-term contracts are terminated.
Exceptionally, member states will be able to extend the deadline until October 31, 2027, provided that natural gas storage filling levels are below mandatory safety limits.
The regulation’s publication in the Official Journal means it takes effect the next day, making its provisions binding for all member states. Simultaneously, the European Commission accompanied the regulation’s publication with an official statement on the gradual elimination of Russian oil imports (EU/2026/268).
As stated, the Commission intends to submit a legislative proposal by early 2026, aiming for the complete ban on oil imports from the Russian Federation as soon as possible and no later than 2027.
Papastavrou: Vertical Corridor is a matter of national importance
Energy developments were commented on by Environment and Energy Minister Stavros Papastavrou, who emphasized that the decision to break free from Russian natural gas represents a shift in regional balances and ends the paradoxical phenomenon where Europe supports Ukraine on one hand while funding Russia’s war through natural gas purchases on the other. He added that the new emerging situation offers Greece the opportunity to play the role of an energy hub in Europe through the Vertical Corridor.
“The success of the Vertical Corridor changes the balances. It creates alternative routes for Europe, upgrades Greece’s role as a reliable energy hub in the region, and limits Turkey’s energy role. It’s a matter of national interest and strategic choice,” he stated, emphasizing that the Vertical Corridor is not only a complex unprecedented undertaking but something more than an energy project, as it opens opportunities for trade, transportation, and the broader economy.
Indeed, Mr. Papastavrou noted that the Energy Corridor’s success constitutes a matter of national strategy, pointed out that the US attaches special importance to the Vertical Corridor’s success, and announced that on February 24, 2026, a meeting of Energy Ministers from involved countries will take place in Washington with American officials to advance the project quickly.
Exarchou: Europe should support the vertical energy axis
It’s worth noting that AKTOR Group president and CEO and ATLANTIC SEE LNG TRADE CEO Alexandros Exarchou, speaking recently from Davos, pointed out that if EU member states are serious about banning Russian natural gas imports, they should have already rushed to secure guaranteed quantities and prices through long-term contracts with other suppliers, such as the US. Otherwise, as he commented, if they wait until 2028 to make decisions, they risk finding themselves in a disadvantageous negotiating position, calling for consistency between words and actions from the EU.
Moreover, Mr. Exarchou emphasized that we must adapt immediately to the new situation and stressed the need for Europe to subsidize, support, and upgrade the vertical energy axis and its infrastructure to make American LNG supply more economical.
