Greece’s energy realism: A bridge for transatlantic energy cooperation
Stavros Papastavrou is minister of environment and energy of the Hellenic Republic. This essay is part of the 2026 Global Energy Agenda.
In a world marked by geopolitical uncertainty, economic disruption, and profound technological change, energy policy must be grounded in facts and guided by security, affordability, competitiveness, and social cohesion.
This is the foundation of Greece’s energy realism: a policy based on cost-efficiency, technological neutrality, diversification, and a clear understanding that every energy decision affects households, businesses, industries, and national resilience.
The energy transition is essential but must be both environmentally responsible and economically and socially sustainable. Europe must remain firmly committed to its decarbonization goals, while ensuring that the pace and design of the transition do not undermine competitiveness, social cohesion, or security of supply.
For too long, parts of the international debate have underestimated this balance. The maritime sector is a telling example. Although shipping accounts for less than 3 percent of global emissions, it has often been confronted with disproportionately high regulatory costs. This creates risks for international competitiveness without necessarily producing equivalent global environmental benefits.
Greece’s position is clear: the destination of the clean energy transition is not in question but the path must be realistic, effective, and fair.
At the same time, Greece has steadily strengthened its role as a strategic energy bridge between regions, markets, and allies. Our close cooperation with the United States, reaffirmed at the recent Partnership for Transatlantic Energy Cooperation (P-TEC) Conference in Athens, reflects a shared commitment to transatlantic energy security, innovation, diversification, and investment.
In this context, Greece is not simply adapting to global developments—it is actively shaping the new energy map of Europe and the Eastern Mediterranean.
Four distinct but complementary initiatives are now driving Greece’s energy strategy and reinforcing the country’s geopolitical and economic position.
First, accelerating Greece’s hydrocarbons sector
Greece is accelerating exploration activities with the participation of leading global energy companies, including ExxonMobil and Chevron. These partnerships signal strong international confidence in Greece’s potential. After nearly half a century, exploratory drilling is set to resume in the Ionian Sea, while new seismic surveys are planned in key offshore areas south of Crete.
In April, the drilling contract for Block 2 in the Northwestern Ionian Sea was signed between Energean as operator of the ExxonMobil–Energean–HELLENiQ ENERGY consortium and Stena Drilling, in the presence of the ambassadors of the United States and Sweden. The agreement marked a historic milestone for Greece, advancing Prime Minister Kyriakos Mitsotakis’ national strategy to strengthen the country’s energy security and accelerate the responsible development of its hydrocarbon potential.
Greece is now counting down to February 2027, when the offshore exploratory drilling operation is scheduled to begin. This effort is not a departure from the energy transition. It reflects a pragmatic understanding that domestic resources can contribute to energy security, reduce dependency, and support economic growth during the transition period.
Second, diversifying energy sources and transforming Greece’s energy mix
Over the past decade, Greece has made remarkable progress. From a power system once heavily dependent on lignite, we are moving decisively toward cleaner alternatives. Lignite’s share in electricity generation has declined dramatically while renewable energy sources now represent a central pillar of our energy mix, accounting for more than 50 percent of the country’s electricity production.
This transition is strategic. By combining renewables with flexible sources such as natural gas, storage, and stronger grids, we are building a system that is cleaner, more resilient, and more reliable. Sustainability must go hand in hand with security of supply and affordable energy.
Third, advancing the Vertical Corridor
This flagship initiative is transforming Southeast Europe’s energy architecture. Greece has evolved from an endpoint for energy imports into a dynamic transit hub, contributing to the European Union’s strategic objective of reducing dependence on Russian gas through the expansion of US liquefied natural gas (LNG) imports and enhanced regional interconnectivity. Through significant investments in LNG infrastructure, interconnectors, pipelines, and compressor stations, we are enabling the flow of energy across borders and into new markets.
The Vertical Corridor is much more than a network of infrastructure. It is a strategic artery that strengthens regional cooperation, market integration, and supply security for Europe as a whole. It shows how targeted infrastructure can unlock broader geopolitical and economic value.
Fourth, strengthening regional partnerships, particularly the 3+1 framework of Greece, Cyprus, Israel, and the United States
Energy cooperation in the Eastern Mediterranean is a cornerstone of regional stability. This partnership is promoting dialogue, investment, and projects of common interest. It is a model of how energy can serve as a catalyst for cooperation rather than conflict.
By aligning strategic priorities with trusted partners, Greece is reinforcing its role as a pillar of stability in a complex and volatile region. The 3+1 initiative, reaffirmed during the recent P-TEC meeting in Athens, promotes growth, energy security, and shared prosperity, while strengthening regional stability and reducing the space for unilateral or destabilizing actions.
These four initiatives form a coherent strategy. They reflect the understanding that real energy security is multidimensional. It depends on diversified sources, robust infrastructure, technological flexibility, competitive markets, and strong alliances.
This is also the essence of Mitsotakis’s energy realism. Greece supports the clean energy transition but not at any cost. We must take into account competitiveness, affordability, and social cohesion. The prime minister was among the first European leaders to reject the false dilemma that a national energy strategy should embrace either renewables or hydrocarbons. Instead, it should pursue both: accelerating clean energy while using every available tool to strengthen energy security.
Recent attention in Washington, including President Donald Trump’s repost of remarks on Greece’s energy strategy and transatlantic energy cooperation, reflects the growing recognition of our country as a reliable partner in the new energy map of Europe and the Eastern Mediterranean.
Ultimately, energy policy is about more than supply and demand. It is about sovereignty. It is about resilience. It is about the ability of a nation to make informed choices in an unpredictable world.
In the twenty-first century, energy is geopolitical power. Whoever controls their energy controls their destiny.
Greece stands ready to contribute to Europe’s energy future as a driver of solutions. Because in today’s geopolitical reality, energy is not just a commodity. Energy is life. And secure energy is power.
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Image: The tanker LNG Enterprise unloads liquefied natural gas from the Lake Freeport LNG terminal in the US at the Revithoussa terminal near Athens, Greece. Photo by Nicolas Koutsokostas via Reuters.