The CEO of Capital Product Partners LP Mr. Jerry Kalogiratos participated in the Economist’s 26th Annual Government Roundtable. In a comprehensive discussion on “Regional Strategic Partnerships in Energy” with the participation of the Minister of Energy and Environment Mr. Kostas Skrekas, Osama Mobarez, G.G. of the East Mediterranean Gas Forum as well as top executives, analyzed the strategic importance of maintaining and strengthening Greece’s leadership position in shipping for solving energy security issues.
During his presentation, regarding the effects of the Russian invasion of Ukraine, Mr. Kalogiratos underlined that the successful energy independence from Russian gas has already been partially ensured through LNG and the possibility of its maritime transport and the floating gasification infrastructures and LNG storage, noting that for the first time during the last month, LNG imports from the US exceeded imports from Russian gas.
According to the head of Capital Product Partners, the country should benefit from the maritime sector as “Today shipping companies of Greek interests control over 23% of the global LNG fleet, it is a total investment of over 30 billion dollars while almost half has been invested in the last 5 years. At Capital Group, we have invested 3.3 billion in the last 4 years to build a fleet of 14 new-build LNG carriers. Greek know-how and continued investment can lead us to solving energy issues security we face today”.
Referring to the emerging infrastructure issues, Mr. Kalogiratos highlighted the lack of LNG import structures, as Europe has until now relied on the import of Russian gas through pipelines, noting, however, that after the start of the war there is an acceleration in new infrastructure projects.
In this context, Mr. Kalogiratos emphasized that “the marine hub for LNG transportation as well as the FSUs and FSRUs infrastructure will play a very important role and will provide an immediate solution while he also emphasized that floating infrastructures as well as LNG transportation provide more flexibility until we see what happens with the energy transition.”
Convinced that the shipping industry is a strategic sector that must be developed through the adoption of new technologies, investment in new ships and high-quality infrastructure, closing his presentation Mr. Kalogiratos focused on the need for cooperation between governments and shipping companies companies but also the attraction of more participants in a clear road map for Europe’s energy independence but also towards the decarbonisation of shipping.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
