Greece and the United Arab Emirates have an opportunity to build a broader platform for cooperation in energy, trade and new technologies, Greek Environment and Energy Minister Stavros Papastavrou said Thursday, describing the bilateral partnership as a pillar of regional stability.
Speaking at the Investopia Mediterranean – Athens conference on October 22, Papastavrou said the two countries could also contribute to the development of the India-Middle East-Europe corridor, which he said should be based on respect for international law, adherence to rules and economic development that benefits people across the region.
He identified energy, emerging technologies, trade and foreign policy as priority areas for closer cooperation.
Greece seeks to expand its role as an energy hub
Papastavrou outlined the transformation of Greece’s energy system, highlighting the expansion of renewable energy and electricity and energy connections with neighboring countries. These developments, he said, are helping position Greece as a regional energy hub.
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The country’s capacity to export natural gas through its system is expected to rise from 5 billion to 8 billion cubic meters annually. It could increase further to 9.5 billion cubic meters once the Greece-North Macedonia interconnector is completed.
The minister also pointed to a planned exploratory hydrocarbon drilling operation in the Ionian Sea in April 2027, as well as seismic surveys underway south of Crete and the Peloponnese.
Masdar and Terna Energy cooperation
Papastavrou also discussed Masdar’s acquisition of Terna Energy, saying the deal would allow the two companies to capitalize on Greece’s geopolitical advantages.
“Terna Energy and Masdar, with Greece as a hub, will carry out — and are already carrying out — many investments throughout Central and Southeastern Europe,” he said.
The minister also expressed interest in drawing on the UAE’s expertise in artificial intelligence, data centers and other emerging technologies.
A platform for regional cooperation
Papastavrou said the two countries had an opportunity to serve as an anchor for the wider region by deepening economic and technological ties.
“I see a huge opportunity for our two countries to become the foundation, to act as an anchor for the entire region, and to create a platform for cooperation in energy, trade and new technologies,” he said.
He reiterated that the Greece-UAE partnership could support the India-Middle East-Europe corridor, which he described as a framework for cooperation grounded in international law, shared rules and development for the benefit of the region’s people.