Ioannis Tsamichas at EFSYN “A CHANCE Greek-Italian alliance for natural gas”

Ioannis Tsamichas at EFSYN “A CHANCE Greek-Italian alliance for natural gas”

Tsamichas Law Office, Studio Legale

A CHANCE Greek-Italian alliance for natural gas

Greece and Italy can accelerate the energy transition, by contributing the energy EU energy security.

The consequences of climate change undoubtedly point to the intensity of policies for energy transition, moving away from European economies away from energy sources that emit greenhouse gas emitting economies.

However, in the aftermath of the COVID-19 pandemic and the subsequent Russian invasion of Ukraine, it became clear that fossil fuels still play a key role in the energy supply mix, contributing to the energy security of the EU. The key challenge for Member States is to find the golden mean between the need to reduce energy supply and increase energy diversification and the need for affordable, consistently available energy.

In this context, the European strategy for energy production, supply and use is crucial, as the energy transformation should be designed to The energy mix should be designed to follow ambitious but realistic objectives, which which take into account the energy diversification and security in order to minimise the risk to European oil and gas European economies.

Greece as an energy hub in the South-Eastern Mediterranean.

Greece is facing a unique opportunity to become an energy hub in the Southeastern Mediterranean, in the context of the diversification of energy sources, the EU’s independence from Russian gas and the achievement of the European Union’s target for netzero by 2050.

This target is particularly ambitious, as the challenges facing the Greek government are considerable. Decarbonisation

fuels is not only time-consuming but also costly, and requires the removal of social barriers and possibly conflict with entrenched interests. New investments necessary for the transition to more environmentally friendly forms of energy, such as renewable energy and natural gas, which is included by the European taxonomy in the eligible costs for achieving netzero as a green investment, require iThe Ministry of Environment and Energy should seize the opportunity, making use of all available possibilities, paving the way for a meaningful investments that will bring natural gas to Greece, part of which will be directed to the EU member states and the continental Europe, making a catalytic contribution to energy sufficiency, while giving priority to the storage of energy from renewable sources.

The European Commission has, moreover, since 2019, with the European Green Deal, adopted the transition to a sustainable future in ESG terms, making the use of more environmentally friendly forms of energy a one-way street energy, data and capital available for the transformation of the European economy integrated planning, speed in decision-making and immediate implementation with a specific timetable. Geopolitical developments, with the war in Ukraine, have highlighted the importance of the EastMed gas interconnection pipeline, which is expected to ensure the connection of the Eastern Mediterranean gas fields from the offshore areas of Israel through Cyprus, Crete and the Mediterranean Sea.and mainland Greece to Europe, providing access to the Leviathan field, one of the largest deposits in the region. In this way, the security of gas supply is significantly enhanced supply of gas to the EU through the diversification of both sources and routes. The 1,900 km of the EastMed pipeline follows an undersea route from Israel to Cyprus, then to the coast of Crete and through the Peloponnese and the and Western Greece to the coast of the coast of Thesprotia and Italy via the Poseidon pipeline. The Italian government is reportedly particularly interested in the construction of EastMed, while the Italian Edison together with DEPA are working to promote the EastMed pipeline, with the former’s CEO, Nicola Monti, reiterating at every opportunity that the project is part of Edison’s strategy to strengthen its long-term contribution to the EU’s sustainable development strategy interest in participating in the in the construction of the East Med pipeline have shown at various times other Italian groups, such as Renco SpA, Sicilsaldo-Nuova Ghizzoni. Italian interest in investing in the energy sector in Greece has been going on for more than a decade, with major Italian groups actively shaping the country’s energy map. Edison, Enel Green Power, Eni, Snam, Terna even seem to be planning to strengthen their presence in the country with investments in smart, green and renewable energy. Among other things, with the existing data, their investment plans seem to be focused on large-scale photovoltaic installations and wind farms, with an emphasis on offshore.

In anticipation of the Prime Minister’s speech at the TIF on thepriorities of the new government, the strategy to be followed in the energy sector will largely determine whether Greece will seize the opportunity to become an energy hub in the Southeastern Mediterranean, while accelerating the transition of the the country and the EU towards a sustainable development.


Tsamichas Law Office, Tsamichas Studio Legale

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