Environment and Energy Minister Stavros Papastavrou highlighted the strategic importance of the Vertical Corridor for Europe’s energy security, the development of domestic natural gas reserves and an increased heating subsidy for about 1.17 million beneficiaries in an interview with MEGA.
The Vertical Corridor and Greece–US relations
The minister described the Vertical Corridor as a project of national importance and European significance, as countries in Central and Southeastern Europe seek to wean themselves off Russian natural gas and secure alternative sources of supply.
Referring to the visit by US Secretary of State Marco Rubio, he said Greece–US relations were at a historic high, with defence and energy serving as key pillars of co-operation. He also described the presence in Greece of US energy companies ExxonMobil and Chevron as a “vote of confidence” in the country.
Natural gas exploration and energy independence
Stavros Papastavrou stressed the need to strengthen Greece’s energy independence, highlighting the importance of exploration to develop domestic reserves.
“We must learn to rely on our own strengths”, he said, adding that the goal was “to become natural gas producers ourselves.”
He also discussed the role of Greek refineries and the importance of retaining the capacity to produce and export petroleum products.
Higher heating oil subsidy
The minister announced increased support for heating oil compared with last year for about 1,170,000 beneficiaries. He said the aim was for the price to be lower than when the previous period ended, with announcements expected in the coming days.
On energy-intensive industry, he referred to the use of the European funding instrument to subsidise electricity costs, linking support for production with competitiveness, exports and the preservation of jobs.
He also noted that tackling the energy crisis required co-ordinated European initiatives and greater flexibility to support households and businesses without jeopardising fiscal stability.
The Greece–Cyprus electricity link
On the Greece–Cyprus electricity link, the minister reiterated that the project was moving forward, stressing its strategic importance for energy security and the country’s geopolitical position.
He made particular mention of the participation of French investment group Meridiam, noting that its expertise strengthened the project’s prospects for completion. He also referred to cross-party support for the project in the US, stressing that Greece was proceeding with the protection of its sovereign rights as its guiding principle.
When work on the new Karaiskakis stadium will begin
Stavros Papastavrou announced that legislation to modernise and upgrade the “Georgios Karaiskakis” stadium had been opened for public consultation, with the aim of securing its passage in the first week of November.
According to the minister, work is expected to begin by early summer 2027.
“So that Olympiacos fans can have a stadium worthy of their history, just as Panathinaikos fans will have one in Votanikos,” he said, adding that the initiative formed part of a broader legislative framework to protect consumers and develop infrastructure that benefits society.
AMNA