As Greece prepares for crucial vote on January 25 which could put radical leftwing Syriza into power, the Mediterranean country is pursuing a number of energy projects that could boost the energy security of the Balkans and the whole European Union.
Stability is an important factor in Greece’s energy landscape. “Given the fact that most of the projects in the energy sector are long-term and they require detailed planning, the current political developments is a secondary factor as far as the progress is concerned of the various projects whether it is in the gas sector or in oil and gas exploration sector,” Institute of Energy for South-East Europe (IENE) Executive DirectorCostis Stambolis told New Europe on January 21. “However, if we’re going to go through an extended political instability then obviously there will be some influence because investors will have to access the situation afresh and then take into consideration the political factor,” he added.
The next few weeks are critical. Political developments in Greece will be closely watched by foreign investors in oil and gas exploration and natural gas, Stambolis said.
Greek natural gas utility DEPA is studying the feasibility of building the East Med pipeline that would transport about 8 billion cubic metres of gas into the European market from offshore fields controlled by Cyprus and Israel.
Moreover, the Trans Adriatic Pipeline (TAP), which is planned to begin construction in 2016, will deliver gas from the Shah Deniz 2 project in the Caspian Sea by connecting to the Trans-Anatolian Pipeline (TANAP). TANAP would take gas to the Greek-Turkish border and TAP would cross northern Greece, Albania and the Adriatic Sea before connecting to Italy.
Athens and Sofia are also working on the 183-kilometre Interconnector Greece-Bulgaria (IGB Pipeline) which is near a final investment decision while the project has secured necessary environmental licenses in the two EU countries.
Moreover, Greece wants to utilise its own hydrocarbons. International companies have until February 6 to submit offers for the concession tender concerning three land regions in Western Greece that are believed to hold hydrocarbon reserves.
The round of concessions regarding the land blocks at Arta-Preveza, Aitoloacarnania and in the northwestern Peloponnese will precede the bigger tender concerning the Ionian Sea and the region south of Crete.
Syriza sources at the European Parliament have told New Europe that if the party comes to power it would continue the oil and gas projects but expressed doubt about Athens’ ability to influence regional energy developments.
But Syriza MP in charge of energy policy Thanassis Petrakoshas told an IENE conference that Syriza wants to renegotiate the terms concerning the TAP pipeline as well exploration and exploitation tender deals already completed for three other spots, in Ioannina, Katakolo, and the Gulf of Patras, all in western Greece.
The view was recently echoed by Syriza MP Apostolos Alexopoulos, prompting Environment, Energy & Climate Change Minister Yiannis Maniatis, part of the New Democracy-PASOKcoalition government, to challenge Syriza leader Alexis Tsipras to clarify whether remarks represent party policy or personal view.
http://www.neurope.eu/article/elections-loom-greece-wants-be-eu%E2%80%99s-energy-catalyst