The Hellenic-American Chamber of Commerce analyzes the advantages of a broader energy alliance between Greece and the United States, the prospect of an extended energy cooperation of the Mediterranean states but the transition to a new energy landscape with alternative energy sources.
Infrastructure interconnection in South East Europe
The study, prepared in the framework of a memorandum of cooperation signed by the Hellenic-American Chamber of Commerce with the Atlantic Council, emphasizes the need to complete the interconnection infrastructure of the energy system of Southeast Europe, while proposing to prioritize projects of common European interest in Eastern Mediterranean region and urges US support for interconnection projects Development Finance Corporation in close coordination with the two governments.
The tripartite
In this context, the study underlines the need to intensify the tripartite cooperation with Israel and Cyprus, with the activation of the USA in the framework of the 3 + 1 scheme, to promote the dual goal of energy security and energy transition in the Eastern Mediterranean region.
And while adding Eastern Mediterranean gas to the Southeastern European pipeline market could boost its energy security in the long run, the study highlights the importance of US LNG imports in the short term, but also the greater security of supply offered by the longer term .
RES and energy transition
The study supports every opportunity for the transfer of know-how and financing of innovative technologies in the field of renewable energy sources, with the financing of the US-East Med Energy Center in the USA, the creation of a Greek-American energy center in Greece, but also with the strengthening of bilateral trade. and investments in energy infrastructure and new technologies that will create jobs and support growth.
As they accelerate energy transition and tackle climate change, they will also contribute to stability in the wider region of Southeastern Europe and the Eastern Mediterranean in the face of the economic and geopolitical challenges exacerbated by Russia’s war in Ukraine.
The hybrid presentation of the study
The presentation of the study “Squaring the Energy Transition Circle in Southeast Europe and the Eastern Mediterranean: How to leverage US-Greece cooperation to ensure energy security while accelerating green recovery?” took place on Wednesday, May 18, at 16:00 Greek time, in Washington in a hybrid event, which was displayed through the website of the Hellenic-American Chamber.
Nikolaos Bakatselos, President of the Hellenic-American Chamber of Commerce, in his introductory note, said: stability in the wider region as well as a strong ally of the United States to ensure energy security in Europe. The elaboration of the energy study by the Atlantic Council with the support of the Hellenic-American Chamber of Commerce, underlines this treaty while at the same time deepens the perspective of this bilateral coexistence, which forms a framework for multilateral cooperation, development and transition to a new energy architecture.”
