Speakers at a thematic panel of the Delphi Economic Forum XI, held in Delphi from April 22 to April 25, highlighted the importance of energy security, synergies and maintaining a balanced dependence on diverse energy sources.
Joshua Volz, Special Envoy for Energy Integration at the United States Department of Energy, stressed that government policies, private sector initiatives and public-private partnerships (PPPs) are essential prerequisites for achieving energy security and independence. “The United States has proven to be a reliable energy partner, as it does not weaponise energy,” he noted. “We believe there are many opportunities for cooperation within the EU,” he added,emphasizing the ne ed for both diversification of energy sources andstronger synergies.
Referring to small modular reactors (SMRs), he said they “will change the world, as the internet did,” and hinted at new technologies in the sector to be announced on July 4.
Alexandros Exarchou, Chairman & CEO of Aktor Group and CEO of Atlantic SEE LNG Trade, underlined the importance of the Vertical Corridor in reducing dependence on Russian gas, stressing the need for Europe to remain strong, energy-independent and balanced in its reliance on different sources. He described this balance as being of “geopolitical importance,” as it underpins stability and security. “The balance between US LNG supply and the Vertical Corridor is key to energy security, which is also linked to national security,” he said.
He also pointed to the challenge that “the EU does not speak with one voice,” arguing that it would be more competitive vis-à-vis Russia and China if, beyond a single currency, it also had a unified economic and defence policy.
At the same time, he expressed concern that LNG shortages could emerge as early as next winter, potentially triggering inflationary pressures similar to those seen during the pandemic. As a solution, he proposed “long-term agreements” with the United States and other suppliers, while stressing that Greece should seize the opportunity, given its geopolitical position, to become a key LNG entry gateway through its ports.
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