Geoffrey Pyatt: Natural Gas Vertical Corridor Elevates Greece’s Strategic Position

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US Assistant Secretary for Energy Resources Geoffrey Pyatt stated that the Vertical Corridor project enhances Greece‘s position as a key player in energy security, benefiting Europe as a whole.

In an interview with the Athens-Macedonian News Agency (ANA-MPA), Pyatt discussed his recent visit to Athens for the REPowerEU Diversification Workshop, organised by the European Commission and the Greek Ministry of Environment and Energy. The workshop gathered energy leaders and ministers from several countries, including Bulgaria, Romania, and Ukraine.

Pyatt described the Vertical Corridor as a cost-effective project with the potential for significant returns in energy security for the region. He highlighted the importance of collaboration among transmission system operators (TSOs) to create unified tariff structures, ensuring economic viability for companies involved in the corridor.

Reflecting on his discussions in Athens with Greek officials, including Environment and Energy Minister Thodoros Skylakakis and Foreign Affairs Minister George Gerapetritis, Pyatt praised Greece’s leadership in energy transition and its growing role as an energy hub for the European Union. He noted a strong commitment among Greek officials to enhance their leadership position in energy security, particularly in renewable energy and clean hydrogen initiatives.

During his visit, Pyatt expressed support for the EU’s goal to fully decouple from Russian energy supplies and underscored the Vertical Corridor’s significance in achieving that objective for Southeastern Europe.

While in Greece, Pyatt attended an Atlantic Council event where Prime Minister Kyriakos Mitsotakis received the Global Citizen Award from Pfizer CEO Albert Bourla. He commended Greece’s transformation into a European success story, which has positively impacted investment opportunities in the country.

Additionally, Pyatt highlighted the potential for increased American investments in Greece’s renewable energy and digital development sectors, emphasising Greece’s aspiration to become a digital hub in Southeastern Europe.

Regarding the geopolitical landscape, Pyatt indicated that Greece would play a central role in the reconstruction of Gaza, especially given the involvement of an Athens-based company in operating the main power plant there. He asserted that the focus on building a sustainable energy system post-conflict aligns with Greece’s capabilities in renewable energy initiatives.

(Source: Amna)