The four contracts with Chevron are expected to be signed within the next week, as announced by Environment and Energy Minister Stavros Papastavrou, speaking on Action 24. Minister Papastavrou characteristically stated that “next week Chevron will come to Greece and we will have the signatures of the four agreements in record time,” adding that this will “advance a very important prospect for our country, which is the development of the hydrocarbon sector.” When asked about the Vertical Corridor, Minister Papastavrou emphasized that it is a project with multiple benefits.
Papastavrou on Vertical Corridor: Highlights our country’s upgraded energy position
“It is a diversified energy corridor for Europe, which highlights our country’s upgraded energy position, creates investments, jobs, more revenue and strengthens our geopolitical position,” he emphasized. “We will meet on February 24th, following an invitation from my counterpart Chris Wright, in Washington, in order to examine the regulatory issues that exist, as we have five different countries and five different regulators and this needs to become more commercially attractive,” he added.
Referring to the regions and the tour he had in recent days in Laconia and Achaea, he emphasized that it is not enough to upgrade our position geostrategically, “we must also support all regions. Everything matters to citizens. Along with the important energy agreements, it is clear that for Kyriakos Mitsotakis’ government policy, regional development is not a slogan, it is a basic priority. No one is left behind,” he said and provided two examples: “The Peloponnese, from being a reference point for fines, has managed to organize waste processing. Also, the Regional Governor of Western Greece had timely found European funding and had made a very interesting proposal to be able to reduce energy costs for a series of municipal bodies,” said the Minister, referring to yesterday’s announcement of YPEN measures to reduce energy costs for 700,000 citizens of Western Greece.
On electricity bills
Finally, regarding electricity bills, Minister Papastavrou mentioned that “although there is a large increase in wholesale prices in January in Europe, we did not see this in Greece” and explained: “We have the increase in renewable energy sources. And this allowed us to be 10th in Europe regarding the lowest wholesale price. This is significant, but we continue our efforts to de-escalate prices.”
“Pricing is a complex exercise with many parameters. It requires us to have more renewable sources, to make energy interconnections with Crete, the North Aegean and the Dodecanese, because this will reduce costs. And to limit electricity theft, which costs 400-500 million, which is why inspections have increased,” he concluded.
