The relations between Greece and the US and the country’s role in the broader Southeastern Europe region were highlighted, among other topics, by Environment and Energy Minister Stavros Papastavrou, in an interview he gave today (6/9) on Fox Business and the “Mornings with Maria” show with journalist Maria Bartiromo. “Greece is a strategic ally of the US in the energy sector,” he stated, while adding that “we are collaborating with ExxonMobil and Chevron to develop the hydrocarbon sector in Greece.”
Papastavrou on Fox Business: “Energy security is national security”
When asked about his meeting with US Energy Secretary Chris Wright, Mr. Papastavrou responded that “Greece is a strategic ally of the US in the energy sector. It has emerged as a strategic pillar and force of stability in the region and has the infrastructure and geographical position to allow American LNG to reach Southeastern Europe and thus become independent from Russian natural gas. I think everyone now understands what has been said for years in the US: that energy security is national security.”
The Environment and Energy Minister emphasized that energy diversification is necessary for regional security and stressed the importance of the Vertical Corridor. “In this sense, we have American LNG arriving through Greece, through Revithoussa and the FSRU station, and from there through Bulgaria, Romania, Moldova to Ukraine, providing the energy diversification that is essential. At the same time, we are collaborating with ExxonMobil and Chevron to develop the hydrocarbon sector in Greece. We will conduct the first exploratory drilling after half a century and hope that our country will be a natural gas producer in the coming years,” he added.
“Russia managed to offer very low prices”
When asked why even today, as Russia continues to attack Ukraine, there are still EU member states buying energy from Moscow, Mr. Papastavrou noted that “I think because Russia managed to offer very low prices and many confused low price with security. When you don’t have secure supply, then you don’t really have a low price. Supply security is a decisive factor for the energy security of every country.” He noted that the European Union has now decided on complete independence from Russian natural gas by the end of 2027.
“Ten years ago Greece was on the brink of bankruptcy”
Mr. Papastavrou also added that besides hydrocarbons, Greece must utilize all its domestic resources: “What does Greece have, apart from being a beautiful country? It has wind, sun, hydroelectric potential and, potentially, hydrocarbons. We must utilize them all. We must also utilize our geographical position. And these must lead to more affordable prices for Greek households and the Greek economy.”
“We didn’t do it for 50 years and that was wrong. Now, we are accelerating and moving fast. As I said, with ExxonMobil we hope that in February 2027, in less than a year, the first exploratory drilling will take place. And Chevron will conduct seismic surveys south of Crete by the end of the year. So we are moving fast,” he explained.
“The prime minister and the government in Greece have completely changed the country’s economic story. Congratulations,” the Fox Business journalist finally said, with Mr. Papastavrou responding: “Ten years ago Greece was on the brink of bankruptcy. Today, it is growing faster than other European countries. Unemployment has fallen from 18% to below 8%. Kyriakos Mitsotakis has reduced more than 80 taxes,” he concluded characteristically.
