Pyatt highlights that “opportunities are abound in the Greek energy sector”

Former US Ambassador to Greece Geoffrey Pyatt stressed during his speech at the annual Capital Link Invest in Greece forum in New York that the opportunities in the Greek energy sector are “abound”.

“Opportunities are abound in the Greek energy sector,” he said at the forum.

The current US Deputy Secretary of State for Energy referred to the incentives offered by the Inflation Reduction Act, noting that Greece is a stable partner of the USA that will continue to play a central role in European energy security and energy transition.

“Now that Russia has proven once and for all that it is an unreliable energy supplier, Greece’s role as an energy hub in Southeastern Europe, with access to supplies from around the world, is more critical than ever. American LNG suppliers and service providers have increased their exports to Greece and the rest of Europe,” he pointed out.

Pyatt argued that Greece’s emergence as an energy hub was made possible thanks to long-term investments in projects such as the Greece-Bulgaria Interconnection, the Revythoussa LNG terminal and the Trans-Adriatic Pipeline.

In this light, he estimated that Greece’s regional importance will continue to grow when the Alexandroupolis Floating LNG Storage and Gasification Terminal (FSRU) and the Interconnection Greece – North Macedonia (IGNM) pipeline are implemented.

Improving and expanding this infrastructure while minimising the carbon footprint is another promising area for investors to consider, the former ambassador to Greece said.

Regarding the promising prospects that Greece presents for American investments in the field of Renewable Energy Sources, Pyatt underlined that Greece hosts a growing renewable energy sources sector, with potential for development in the field of wind, solar and green hydrogen.

The $369 billion in the recently passed Inflation Reduction Act will greatly stimulate research, development, and market deployment of these technologies both in the United States and abroad.