The Minister of the Environment and Energy spoke about current geopolitical developments, ADMIE’s successful capital increase, his recent trip to the U.S., as well as current domestic political issues, in an interview he gave today on SKAI TV.
When asked about the agreement reached in the Middle East, the minister emphasized:
“First of all, the implementation of the agreement still needs to be confirmed. It appears that we are moving toward an end to hostilities—which is very important—the reopening of the Strait of Hormuz, and a gradual de-escalation. This will not happen overnight. But it is clear that, to the extent that it is confirmed, we will return to a sense of normalcy in the coming weeks and months.”
At the same time, he explained that for this reason, “it is very important that our country had and continues to have the fiscal flexibility, in any scenario where this very positive development is not realized, to be able to help Greek citizens.”
Referring to the development of the hydrocarbons sector, Mr. Papastavrou emphasized:
“We are decisively accelerating the national effort to develop the hydrocarbons sector. The presence of these two major companies in our country is no coincidence. They see something here in Greece. In fact, on Monday—five days ago—Chevron expanded its presence, entering a fifth block in partnership with HELLENiQ Energy in the South Ionian Sea.
ExxonMobil is planning its first exploratory well for February 2027. That means we’re now looking at 9–10 months until the first exploratory well. “We plan to conduct the first exploratory well between February 14 and 24,” he noted, adding that the results will take about two months to come in.
“The success rate is 16%. For the hydrocarbons sector, that’s quite respectable. And let me tell you something: Norway, which is one of the richest countries in Europe and the world in terms of natural gas, found natural gas on its 17th attempt. By the spring of 2027, we’ll have a clearer picture. We’ll know whether we’ll move forward with production in the coming years or not.”
When asked about the issue of urban planning, the minister noted:
“We need to carry out a radical reform of urban planning. We need to create a one-stop-shop, a gov.gr portal for urban planning. We are working on this reform. The prime minister has announced this reform so that everything is in a single digital database, eliminating human intervention,” and he added:
“We have consolidated the legislation. With the new Code of Spatial Planning and Urban Planning, drafted by Deputy Minister Nikos Tagaras, 180 existing laws have been consolidated. Now there is a single code, 477 articles, which you can access online for free. The code, along with simplification, transparency, and reform, will serve to strengthen property rights. And New Democracy believes in the value of property.”
Regarding electricity prices, Mr. Papastavrou emphasized that the increased share of Renewable Energy Sources (RES) in Greece’s energy mix has acted as a buffer against further increases in electricity prices. He even noted that, as of yesterday and today, Greece has some of the lowest wholesale prices in Europe, with the exception of Scandinavia and Estonia.
Regarding ADMIE’s capital increase, the minister emphasized that there has been significant interest both from abroad and within Greece:
“And with the government retaining control. We place great importance on the networks. Right now, it is the networks that allow us to strengthen our energy strategy.”
Finally, referring to the elections, he stated that they will take place “at the end of the four-year term. I believe there are many reforms we need to implement by then to improve the quality of life and standard of living of Greek citizens.”