Hellenic Petroleum’s green shift

Hellenic Petroleum’s green shift

The new strategic planning of Hellenic Petroleum, named ELPE Vision 2025, provides for the growth of renewable energy sources within and outside of Greece through acquisitions or cooperations with third parties, as well as mature plans for the upgrading and a more green operation of the refinery units.

The energy giant’s chief executive, Andreas Shiamishis, who is also the architect of this strategy, spoke to Kathimerini about the plan’s targets and the need to approach the market with a new identity and a new corporate structure that will also facilitate funding strategies, transparency and the more rational assessment of each activity’s value.

The Hellenic Petroleum CEO further revealed there are mature plans for the evolution of the Elefsina refinery into a pioneering energy transition unit, and for the shift of the Thessaloniki refinery into a green one, including an investment in a unit producing renewable diesel that will be completed by 2024.

As he said in his interview, “the future of refining and oil lies in their adjustment to the new environment and not via their replacement.”