Eastern Mediterranean seeks greater role as energy corridor for Europe

HELLENiQ ENERGY hosts Athen’s forum as strategic partner of the East Mediterranean Gas Forum (EMGF)The development of the Eastern Mediterranean into an interconnected energy corridor, capable of making a meaningful contribution to security of supply across the wider region, was at the heart of a high-level event co-hosted by HELLENiQ ENERGY and the East Mediterranean Gas Forum (EMGF) in Athens. HELLENiQ ENERGY CEO Andreas Shiamishis described Greece’s position in the regional energy market, saying that “Greece is a natural energy gateway to European markets”. He went on to explain that “both companies and the State have taken significant steps towards fulfilling this role”, with these efforts “enabling energy products to reach European consumers either through the development of infrastructure such as pipelines and cables, or through transport networks by land and sea.” The Forum brought together senior officials from across the region, including Greece’s Minister of Environment and Energy, Stavros Papastavrou, Cyprus Energy Minister Michael Damianos, Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, and Joshua Volz, Special Envoy for Global Energy Integration at the US Department of Energy. Also attending were Osama Mobarez, Secretary General of EMGF, and Jassim Alshirawi, Secretary General of the International Energy Forum (IEF), alongside representatives of EMGF Member States, regulatory authorities, leading energy companies, investors and financial institutions. The Forum focused on the conditions required to connect the region’s energy resources with the infrastructure, markets and capital needed to bring them to fruition. Discussions among energy ministers, institutional representatives and industry participants examined the challenges involved in developing an effective regional energy system, with particular emphasis on energy corridors, LNG infrastructure, pipelines, storage and interconnections. Attention also turned to the conditions required to bring projects to the level of maturity necessary for Final Investment Decisions (FIDs). Alongside these priorities, the dialogue addressed cross-border regulatory alignment, the effectiveness of permitting processes and mechanisms for allocating commercial risk. A common focus throughout the event was to translate strategic dialogue into concrete priorities that can help attract capital and accelerate the implementation of projects of critical importance. The human dimension of energy corridor development also featured on the agenda, through a dedicated session involving the EmpowerMed Women Network. The discussion focused on the leadership capabilities and specialised expertise required to deliver complex projects, as well as the contribution of women professionals to strengthening the energy sector’s human capital. Meanwhile, HELLENiQ ENERGY, which has a presence in eight countries and activities spanning the entire energy value chain, participated in the dialogue as one of Southeast Europe’s largest energy groups, highlighting the critical role of cross-border infrastructure. One example is the Vardax pipeline, which was brought back into operation at the beginning of the year, connecting HELLENiQ ENERGY’s facilities in Thessaloniki with the Group’s facilities in Skopje. The pipeline transports fuels to the Republic of North Macedonia and neighbouring Balkan markets, contributing to the region’s energy security and resilience. HELLENiQ ENERGY and EMGF supported an execution-oriented dialogue, placing particular emphasis on partnerships and the investment conditions that can strengthen the Eastern Mediterranean’s position on the regional and European energy map.