Hellenic American Chamber: US LNG and Eastern Mediterranean Gas for Energy Security in Southeastern Europe

The importance of US liquefied natural gas (LNG) imports in the short term, the greater security of supply offered by the longer-term LNG contracts and the potential for enhancing energy security in South East Europe by adding Eastern Mediterranean gas through the Mediterranean Hellenic-American Chamber of Commerce in the framework of the memorandum of cooperation it has signed with the Atlantic Council.

The main axes of the study concern the advantages of a wider energy alliance, between Greece and the United States, the prospect of an extended energy cooperation of the Mediterranean states, while specifying the transition to a new energy landscape with alternative energy sources.

In this context, underlines the need to intensify the tripartite cooperation with Israel and Cyprus, with the activation of the USA in the framework of the 3 + 1 scheme, to promote the dual goal of energy security and energy transition in the Eastern Mediterranean region. .

The study supports the transfer of know-how and financing of innovative technologies in the field of renewable energy sources, with the financing of the US-East Med Energy Center in the USA, the creation of a Greek-American energy center in Greece, but also the strengthening of bilateral trade and investment in energy infrastructure and new technologies that will create jobs and support growth. As they accelerate energy transition and tackle climate change, they will also contribute to stability in the wider region of Southeastern Europe and the Eastern Mediterranean in the face of the economic and geopolitical challenges exacerbated by Russia’s war in Ukraine.

The President of the Hellenic-American Chamber of Commerce, Nikolaos Bakatselos, in his introductory note, said: “At a time when energy is at the heart of global geopolitical correlations, as a result of Russia’s war in Ukraine, Greece is a pillar as well as a strong ally of the United States to ensure energy security in Europe.The Atlantic Council’s energy study, supported by the Hellenic-American Chamber of Commerce, underlines this treaty while deepening its perspective. of bilateral coexistence, which forms a framework for multilateral cooperation, development and transition to a new energy architecture “.