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Home»Economy
Economy

Greece Emerges as Key Energy Gateway to Europe, Guilfoyle Says

Platon ZachariouBy Platon Zachariou24 February 2020No Comments3 Mins Read
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Greece is solidifying its position as a critical energy gateway to Europe, according to US Ambassador to Greece Kimberly Guilfoyle. Speaking at the “Nisyros Dialogues – Bridging the East Med” event on Tuesday evening, Guilfoyle emphasized that Greece has emerged as a key regional energy hub, playing a vital role in European energy security and transatlantic cooperation.

The ambassador highlighted Greece’s alignment with President Donald Trump’s vision of peace through strength, citing the country’s military investments and commitment to shared security. Guilfoyle described Greece as an indispensable ally, noting that the two nations stand ready to face challenges together as strategic partners.

Energy Security as National Security

According to Guilfoyle, the Trump administration views energy security as equivalent to national security. She stated that American LNG, Eastern Mediterranean resources, and European infrastructure form mutually reinforcing pillars of a new transatlantic energy architecture. The US ambassador emphasized that these elements are central to creating a more secure energy framework with American support.

The results of this cooperation are already visible, Guilfoyle noted. LNG exports to Europe have reached historic levels, according to the ambassador, while energy deals with major companies like ExxonMobil and Chevron demonstrate the strength of US-Greece strategic cooperation.

Regional Energy Partnerships Expand

Additionally, Guilfoyle referenced a recent energy agreement between Athens and Kyiv that will see LNG transported from Greece to Odesa via the Vertical Corridor. She indicated that communication is ongoing with other countries along the corridor to strengthen this energy gateway. The ambassador characterized these developments as just the beginning of long-term deals that will provide benefits for years to come.

However, the energy hub strategy extends beyond immediate partnerships. Greece has accelerated diversification away from Russian gas while strengthening long-term transatlantic energy ties, according to the US ambassador’s remarks.

Balancing Chinese Investment in Piraeus

Meanwhile, Guilfoyle addressed the topic of Chinese investment in Greece’s Piraeus port, suggesting that a new port should be built to counter Chinese influence. She acknowledged that Chinese investors entered Greece at a time when the economy was struggling and were the only bidder for the port investment.

The ambassador stated that Greece now has measures to review and evaluate foreign investments that were not in place previously. She indicated that the US intends to invest in infrastructure to build another port that can balance the outputs from Piraeus, while implementing a long-term strategic plan.

Defense Commitments Strengthen Alliance

In contrast to earlier concerns about European defense spending, Guilfoyle praised Greece for committing to spend 5% of GDP on defense. She noted that Greece has exceeded American expectations and reaffirmed that the United States will always stand by its ally. The ambassador cited Greece’s maritime strength, democratic stability, and resilient people as factors making it a vital partner.

The Elefsina shipyards were highlighted as a prime example of American investment transforming Greek infrastructure. According to Guilfoyle, the facility has become a thriving shipyard providing high-quality jobs to the local community, exemplifying what she called a new era of foreign policy focused on deeds and results rather than words.

The ambassador stated she will work daily to advance American interests and infrastructure in Greece and the region, pushing back against Chinese interests as part of her responsibility to ensure US-Greece relations remain strong. Further developments in port infrastructure and energy partnerships are expected as both nations continue to strengthen their strategic alliance, though specific timelines for new port construction have not been confirmed.

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