The Minister of Environment and Energy spoke about the new energy landscape taking shape in Greece and emphasized that the Government responded immediately to the unprecedented global challenges
In the work of the 24th Annual Forum organized by Capital Link in New York, participated yesterday, Friday, December 9, 2022, the Minister of Environment and Energy, Kostas Skrekas.
Mr. Skrekas spoke about the new energy landscape that is taking shape in Greece and emphasized that the government responded immediately to the unprecedented global challenges, demonstrating leadership ability both in the field of energy security as well as the ambitious climate goals.
Greece a catalyst for strategic energy autonomy
The Minister of Energy and Environment described Greece’s initiatives to strengthen energy security, with the implementation of critical infrastructure and the deepening of strategic alliances. “We are actively turning the country into a pillar of energy stability for the entire SE Mediterranean region, acting as a catalyst for the diversification of energy sources and strategic autonomy,” he said, among other things.
Mr. Skrekas underlined that Greece demonstrated energy solidarity, exporting 2.5 billion cubic meters of natural gas in 2022, compared to 0.7 billion cubic meters, which it had exported in 2021. At the same time, with the operation of the Greek-Bulgarian IGB pipeline and the completion of the Alexandroupoli FSRU by the end of 2023, huge export potential arises.
At another point in his speech, the Minister pointed out: “We are tripling our infrastructure for liquefied natural gas. Revythoussa’s storage capacity has increased by 70%, while landings will reach 80 this year, up from 39 in 2021. At the same time, we are advancing hydrocarbon exploration to further diversify our options while expanding our electrical interconnections in almost all directions, including Italy, the Balkan countries, as well as Egypt.”
The green transition at the heart of government policy
Describing the Government’s priorities, Mr. Skrekas underlined that the green transition is the only solution for stopping the climate crisis and achieving affordable energy prices.
Focusing on the continuous reforms that Greece has been making in the last three years in this sector, the Minister of Environment and Energy stated that the Government is mobilizing green investments, amounting to 50 billion euros, until 2030: “We accelerated the green transition, with a record level of 2 GW of Renewable Energy Sources, to be installed in 2022. In total, the capacity of Renewable Energy Sources exceeded 10 GW and will almost triple by 2030, accounting for 80% of electricity consumption. This green revolution will be accompanied by 7 – 8 GW of electricity storage and 2.5 GW of offshore wind by 2030.”
In closing, Mr. Skrekas said: “We are deepening our cooperation with the U.S. at all levels and I am happy that there is strong investment momentum from American companies in Greece, in all green sectors”, concluded the Minister of Environment and Energy.
The CEO of Helleniq Energy, Andreas Siamisii, the CEO of PPC, Giorgos Stassis, the Head of Investment Banking for Financing in Greece, Dimitris Kofitsas and the General Manager of Nomura in Greece, Antonis Timplalexis, also participated in the discussion.
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