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P-TEC ATHENS: US LNG TURNS GREECE INTO REGIONAL HUB (UPDATES)

This week on Nov. 6 and 7 saw the 6th Transatlantic Energy Forum P-TEC held at the Zappeion Hall in Athens (live streams). US Energy Secretary Chris Wright and Interior Secretary Doug Burgum joined a party of European energy ministers, US Ambassador Kimberley Guilfoyle and Greek PM Kyriakos Mitsotakis seeking deepening US-European collaboration to secure, sustainable and affordable energy, particularly in new generation nuclear and LNG technology. A number of contracts were signed involving the 'Vertical Corridor' and energy cooperation involving the '3+1 platform' between the US, Greece, Cyprus and Israel. 



Nov. 7, 2025 Kyriakos Mitsotakis: speech at P-TEC. 

The far stretching, geopolitical meaning of the conference is inescapable. As Europe is weaned off cheap Russian gas through pipelines in unstable regions, the southeastern part of Europe is ensuring itself of a steady flow of American Liquified Natural Gas (LNG) by ship, for decades to come.

The summit featured high-level ministerial meetings, including the '3+1 format' involving energy ministers from Greece, Cyprus, Israel, and the US, discussing key projects like the Greece-Cyprus-Israel gas pipeline. Energy ministers from all four nations participated in discussions on infrastructure projects and strategic cooperation. 

The Great Sea Interconnector (GSI) remains a high-priority project for Cyprus, Greece, and Israel, despite ongoing challenges, with recent developments indicating continued progress as of November 2025.

The GSI project, designed to link the power grids of Greece, Cyprus, and Israel via a submarine cable, faces significant obstacles, primarily due to Turkey's objections, which led to suspension rumors and ongoing bureaucratic and political hesitations within Cyprus.

These are long term contracts locking and determining the political direction of a region for the foreseeable future. As far as Greece is concerned, this will consolidate it's role as a transatlantic partner in Europe.

Regrettably it did not take long for P-TEC to evolve into a "slava Ukraine" Russophobic hatefest. Despite President Trump adopting a more rational stance towards the war in Ukraine, Europeans and members of his administration continue the degrading emotional approach.

The 'Vertical Corridor' will make Russian gas via the Black Sea through the Turkstream pipeline (link) obsolete in the future, thereby diminishing dependence on the whims and power games of Turkey.

Memorandums were signed with Bulgaria, Romania and Ukraine for the supply of American LNG through Greek Aegean Sea terminals. Polish and Baltic delegations were also present at the conference.

Atlantic-See LNG Trade S.A. is a joint venture of AKTOR and DEPA, who reached an agreement with the American company Venture Global for the supply of LNG and its distribution in Eastern Europe (link). 

The LNG arriving in Greece at the Revythousa Terminal on an outcrop in the Gulf of Megara near Athens (link) and northern Greece at Alexandroupolis, will be routed via the 'Vertical Corridor' to markets in Ukraine, Moldova, Slovakia, Bulgaria, Romania and Hungary, positioning Greece as an energy hub.

A Joint Declaration was also signed by Deputy Foreign Minister Haris Theocharis, US Undersecretary for Energy, Jacob Helberg and US Ambassador Kimberly Guilfoyle on the strengthening of cooperation between the US and Greece with a focus on Artificial Intelligence (link). 

Just on Nov 6 Greece signed a Farm-In Agreement with ExxonMobil, Energean and HelleniQ Upstream for the exploitation of Block 2 in the northwestern Ionian Sea, approximately 30 kilometers west of Corfu and adjacent to Italy’s EEZ (link).

PM Kyriakos Mitsotakis said in his speech at P-TEC that in 2023, Greece spent 75 million euros importing electricity, while last year earning 112 million by exporting it, adding that at the same time Greece invested a lot in natural gas to ensure that Greeks have and will have a predictable energy supply in the future.

He stressed that his government wants the country to be at the forefront of developments. "Since we are a stable energy provider at a low price, we will be able to advance even better in this sector", he said, speaking of a "great transformation" that has taken place in the country so that it can expand in all these sectors. (Source)

More external reading on Navtemporiki
- Pierrakakis at P-TEK: Promising prospects for investments in Greece (link)
- Kikilias at P-TEC: Strategic US investments in ports and shipyards are expected (link)
- Xenokostas at 6th P-TEC: Greece is emerging as a key hub in the new energy era (link)

Kathemerini
- Building an energy corridor from east to west (link)
"Greece, Cyprus and Israel can cooperate to transport energy from its sources in Asia to where there is greater demand – in Europe, says Israeli Energy minister Eli Cohen"

- What is LNG? (video)
- What is the GSI? (link)
- What is the Vertical Corridor? (link)
- What is the 3+1 Framework? (link)|
- What is IMEEC?


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