By Dimitris Gatsios
Athens is composing piece by piece the puzzle of strengthening its alliances in the Middle East and the Eastern Mediterranean, as well as the plan to turn the country into a gateway for natural gas to Europe. In an era of geopolitical and energy liquidity, due to the Russian invasion of Ukraine and the new reality that it creates internationally, the Prime Minister visited (for the third time since 2020) Abu Dhabi, with the talks he had with the heir to the throne. to give further impetus to the bilateral relations between Greece and the United Arab Emirates, through and through the signatures that fell on important agreements and in critical areas. Such as investment, economy, technical cooperation, energy, health, industry and advanced technologies.
The carpet of Athens’ aspirations in the energy sector was laid in the statements of Mr. “Mitsotakis. Greece has the potential due to its geographical location to become a gateway for gas from the Middle East and the southeastern Mediterranean to Europe. Significant investments We would like to explore further the possibility of strategic cooperation and participation of funds from the United Arab Emirates in this direction.At the same time, Greece is reactivating its own mining program to find natural gas within the Greek territory. “I know your personal interest in the future of energy, in renewable energy sources,” the prime minister said in a statement. “And on issues such as offshore wind farms, we are ready to move at a rapid pace in order to build strategic partnerships to exploit this very important source of wealth for our country,” he added.
As government officials comment, in the aftermath of the talks held in Abu Dhabi, the renewal of the cooperation of the Hellenic Development Investment Bank with the state investment fund Mubadala and the creation of a joint initiative for the realization of our country in the country is crucial for the development of economic relations. investment of EUR 4 billion. “Once again, the attractiveness we have as a global investment destination is being demonstrated”, they note, with the discussions focusing mainly on investments in the framework of the “Re-power eu” projects for the energy autonomy of the European Union , with Greece as an energy gateway to the wider region. After all, there is a list of projects worth more than eight billion euros, seeking co-financing close to 4 billion euros, as well as a possible investment in gas extraction, if identified.
The agreements
The Prime Minister and the successor to the throne of Abu Dhabi attended the signing of a Memorandum of Understanding on Economic and Technical Cooperation, aimed at further strengthening economic cooperation between the two countries. Particularly:
– The United Arab Emirates and Greece have agreed to launch a $ 4 billion investment initiative to facilitate investment in the Greek economy in a wide range of sectors, including infrastructure, renewable energy and new forms of energy, healthcare, food, agriculture and supply chain. To this end, a Memorandum of Understanding was signed between the ADQ of the United Arab Emirates and the Hellenic Development Bank and the Hellenic Development Investment Bank.
– Mubadala Investment Company and the Hellenic Development Investment Bank agreed to expand their partnership to the 400 million joint investment platform established in 2018.
– The National Oil Company of Abu Dhabi and Motor Oil signed a strategic framework agreement to explore opportunities for the supply of liquefied natural gas cargo in our country, including the future floating liquefied natural gas storage unit and the “Dioriga” gas regeneration unit. to explore other cooperation opportunities at the Dioriga Gas terminal.
– Bilateral cooperation in the field of renewable energy sources will be expanded and deepened through three new agreements signed by the Abu Dhabi Future Energy Company. The agreements contain a memorandum of understanding with Greece for the development of renewable energy sources and energy efficiency solutions in the ecological islands, A memorandum of understanding for the establishment of a consortium with the local partner “Kyoto SA.” for the development of terrestrial renewable energy projects in Greece. And a memorandum of understanding with Motor Oil for the development of offshore wind farms and other renewable energy projects in our country.
Source: Capital
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