Papastavrou: Greece is a strategic US ally in energy and a stability force in the Eastern Mediterranean

Greece is solidifying its role as a strategic energy ally for the United States and a key player in regional stability, according to Stavros Papastavrou, the Greek Minister of Environment and Energy. In an interview with Fox Business, Papastavrou highlighted Greece's crucial position in facilitating the flow of American liquefied natural gas (LNG) to Southeast Europe, thereby aiding in the region's energy diversification away from Russian supplies.

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Greece is a strategic ally of the US in the energy sector. It has emerged as a strategic pillar and a force of stability in the region and has the infrastructure and geographical position to allow American LNG to reach Southeastern Europe and thus break our dependence on Russian natural gas.

Papastavrou emphasized that energy security is intrinsically linked to national security, a point increasingly recognized globally. Greece is leveraging its infrastructure, including the Revythousa terminal and an FSRU (Floating Storage and Regasification Unit), to transport US LNG. This energy corridor extends through Bulgaria, Romania, and Moldova, reaching Ukraine, and is vital for diversifying energy sources in the region.

Beyond LNG, Greece is actively pursuing the development of its own hydrocarbon resources. The minister announced collaborations with energy giants ExxonMobil and Chevron. Greece is preparing to conduct its first exploratory drilling in half a century, with ExxonMobil aiming for a February 2027 target and Chevron planning seismic surveys south of Crete by the end of the year. Papastavrou expressed optimism that Greece could become a natural gas producer in the coming years.

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I think everyone now understands what has been said for years in the US: that energy security is national security.

Addressing the continued energy purchases from Russia by some EU member states, Papastavrou suggested that historically low prices offered by Russia had led some to mistakenly equate low cost with security. He stressed that true energy security cannot exist without a reliable supply. The minister noted the EU's commitment to fully weaning itself off Russian natural gas by the end of 2027.

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We have American LNG arriving via Greece, via Revythousa and the FSRU station, and from there via Bulgaria, Romania, Moldova to Ukraine, providing the necessary energy diversification.

Papastavrou also pointed to Greece's other domestic resources, including wind, solar, and hydroelectric potential, in addition to hydrocarbons. He believes harnessing these resources, along with its strategic geographic location, will lead to more affordable energy prices for Greek households and the economy. The minister acknowledged that past inaction was a mistake and that Greece is now accelerating its efforts in energy development.

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We are cooperating with ExxonMobil and Chevron to develop the hydrocarbon sector in Greece. We will conduct the first exploratory drilling in half a century and we hope that our country will be a natural gas producer in the coming years.