HOUSTON, Sept 17 (Reuters) - U.S. liquefied natural gas

(LNG) developer Venture Global LNG signed a five-year deal with

Gastrade SA to regasify up to 1 million metric tons of LNG in

Greece for a five-year period beginning next year from two of

its Louisiana export facilities, the company said on Tuesday.

Regasification is the process of turning liquefied natural

gas back to its gaseous state.

The deal will allow Venture Global LNG access to

regasification capacity at the Alexandroupolis LNG receiving

terminal on the Thracian Sea, increasing its ability to reach

Central and Eastern European markets, the company said.

The Virginia headquartered company will gain access to 25%

of the terminal's total capacity or approximately 12 cargoes

annually, Venture Global LNG said.

Venture Global is set to become the U.S. second-largest

exporter of the superchilled gas after Cheniere Energy

once its proposed Plaquemines LNG export terminal is fully

constructed and producing.

"This move further integrates our business by growing our

assets across the LNG supply chain including LNG production,

shipping and regasification, said Venture Global CEO Mike Sabel.

The new Alexandroupolis LNG receiving terminal and

South-North 'Vertical Corridor' will be essential to enhancing

Central and Eastern European energy security by providing a new

route to bring alternative supplies of natural gas into the

region, Venture Global added.

Critical energy infrastructure projects in Greece have been

supported in part by European co-funding and the United States

through the International Development Finance Corp.