Shiamishis – “We will have high energy prices during the green transition”

The estimate that during the energy transition the prices of commodities and energy will be high was made by the CEO of Hellenic Petroleum.

Speaking at the 6th Energy Symposium organized by the UAE, Andreas Shiamishis said that “we will have and expect high energy prices during Europe’s transition to green energy and cleaner energy technologies.”

He added that “the industry is concerned with the Green Deal, Fit for 55 Package, etc. However, I am convinced that in 2030 we will have lower prices and a cleaner energy portfolio.”

Mr. Shiamishis also noted that “if these measures had been taken 10 years earlier we would not have these problems. That is why we must move forward as quickly as possible with the changes aimed at tackling climate change. ”

He also referred to the energy transformation plan of EL.PE, noting that “one of the pillars of change is to make refineries and petroleum products more environmentally friendly by using new production technologies, such as blue hydrogen.”

Mr. Shiamishis also noted that more than 50% of the group’s investments in the next decade will concern RES and cleaner forms of energy.