As Greece frees up its energy market, it can count on the US as a credible ally and procurer, as Athens is an important partner in the US energy agenda, US Ambassador to Athens Geoffrey Pyatt told an energy conference yesterday.

“Energy is one of the most promising areas for attracting new investment to Greece that the country will need to sustain growth and leave the years of crisis behind. Energy, and Greece’s role as a European energy hub, is therefore a central part of the U.S. strategy to build up Greece as a pillar of regional stability” Pyatt said.

The US Ambassador also extolled Greece’s decision to procure US liquefied natural gas (LNG), and develop related infrastructure.

“The Revithoussa LNG terminal provides Greece with flexibility for importing natural gas from multiple sources into the local market. A future terminal near Alexandroupoli would add to that resilience and is a high priority for the months ahead to complete financing and participation, hopefully including an American share. Importation of LNG, including from the United States, can also play an important role in diversification of Greece’s and Europe’s energy supply. And that is why we were so pleased with Prime Minister Tsipras’ announcement in Washington last October that Greece intends to become the third EU importer of US LNG,” Pyatt said.

“We are hopeful that Greece, as it continues to move forward with energy market liberalisation, will see America as a reliable supplier and an investment partner,” the US envoy underlined.

DESFA Privatisation

Pyatt underscored the importance of the privatisation of the Hellenic Gas Transmision System Operator (DESFA).
“We anticipate that the privatisation of DESFA, which the SNAM-led consortium recently won, will lead to further investment in the Greek system and create new opportunities for diversifying and strengthening resilience, he said.

Geostrategic role

Pyatt also stressed the importance of Greece’s geographic position on the energy map.

“Greece’s geostrategic importance has informed U.S. policy for many decades, and today it shapes our support, which we share with the European Union, for Greece’s emerging role as a European energy hub – an issue that featured prominently in Prime Minister Tsipras’ visit to Washington last October,’ the ambassador said.

Washington is also pleased with Greek support of “the Trans Adriatic Pipeline, the Greece-Bulgaria Interconnector, and LNG facilities that are capable of transporting diverse sources of energy to Europe, including potential LNG gas exports from the United States.”