Greece’s leading role in the Vertical Corridor, and the energy agreements reached at P-TEC that are shaping the energy landscape in our region were mentioned by Environment and Energy Minister Stavros Papastavrou at the discussion on “Advancing Energy Corridors in the Three Seas Region” held today in Croatia.
The debate was organised by US Energy Secretary Chris Wright in the context of the Three Seas Economic Forum and was attended by his counterparts from Croatia, Poland, Lithuania, Bulgaria, Moldova, Latvia, Poland, Lithuania, Bulgaria and other SEE countries, as well as European Commission officials, including Energy Director General Ditte Juul Jørgensen.
In his statement Papastavrou made four points:
First, the Minister informed his counterparts of the agreement reached a few weeks ago between the Transmission System Operators of Greece, Bulgaria, Romania, Moldova and Ukraine, in cooperation with the European Commission, which marks a substantial leap forward for the Vertical Corridor.
He said the agreement ensures regulatory clarity, competitive and predictable tariffs, as well as the possibility of long-term capacity commitments, enhancing the commercial viability of the corridor. The result is a transition from fragmented flows to a reliable and financeable energy network that enhances security of supply in the region.
Second, he welcomed the tangible and decisive steps taken yesterday with the important 20-year agreement signed between AKTOR LNG USA and Albania’s AlbGaz on the one hand, and the agreement on the Bosnia-Croatia Southern Interconnector gas pipeline on the other, describing them as “decisive steps leading to further independence from Russian gas”.
Thirdly, he highlighted the need for the European Commission to guard the Turkstream bypass and Turkey’s compliance with the ban, and called on the Commission to proceed with generous funding for energy infrastructure projects and also to adjust the regulatory framework, stressing that “infrastructure follows the regulatory framework and investment follows certainty”.
Finally, he announced that there will be a meeting with Serbia and North Macedonia in the near future to speed up the interconnection projects of the three countries within the framework of the enlarged Vertical Axis.
It is recalled that on the first day of the Summit, Tuesday 28 April, Mr. Papastavrou participated in the Economic Forum of the Summit as a speaker in the panel “The Adriatic-Ionian Corridor” with his counterparts from Central and Eastern Europe.
On Tuesday afternoon, Papastavrou held a bilateral meeting with Ante Šušnjar, Croatia’s Minister of Economic Relations, responsible for energy. He also held a meeting with the President of the Hellenic Republic, Mr. Tassoulas, along with the US Secretary of Energy, Chris Wright, and the Greek Deputy Secretary of State, Haris Theocharis.
After leaving Croatia, Papastavrou assessed the participation of the national delegation, summing up: “The Summit of the Three Seas Initiative has been completed. The Summit of the three countries of the Three Gorges Initiative has been clearly demonstrated. The leading role of our country, our homeland, in the energy security and independence of the region of South-Eastern Europe and the Western Balkans has been highlighted. The energy agreements signed last November at the European Energy Summit in P-TEC are the flagship for the energy security of South East Europe.”
