Akis talks gas and oil with Azeris
Greece hopes to actively and substantively support the European Union’s overall energy policy by becoming a regional hub for distribution of supplies from the Caspian region, Development Minister Akis Tsochadzopoulos said yesterday. «Our aim is to emerge as an energy center in Southeast Europe, so as to support actively and substantively the overall EU energy market,» he said after a round of talks with ministers in Baku at the start of a two-day visit to Azerbaijan. The creation of this «energy corridor» involves constructing natural gas pipelines, transporting Caspian oil through Baku, and Greece will function as a distribution and supply hub for both oil and gas in the Balkans. «The plan is making speedy progress. Investment funds are ready. There has been a thorough study and an entire program which secures support to this initiative,» Tsochadzopoulos added. According to the plan, quantities of Caspian natural gas will be transported from Azerbaijan to meet the requirements of Turkey and Greece, as well as those of the EU. «This is what we agreed upon with Azeri Energy Minister Kerimov, both in terms of specific policy options and specific measures. I am also meeting the country’s president and the prime minister for more specific details, on which I will be able to brief you [today]» he said. Responding to questions, Tsochadzopoulos said Turkey would receive EU funding for the study of the portion of the gas pipeline on its soil and that there is strong investor interest in financing the construction of the project. Other companies are about to embark on construction of the pipeline on Azeri soil. He said the project, which enjoys the support of EU partners and US agreement – as it involves European (including Greek), American and Turkish companies – would also have indirect benefits on the Greek economy. «Greece needs investment and, through the energy market, we secure the transfer of advanced level investment to Greece, which spills over into the stock market. Institutional investors invest in such big projects and this is a double boost for the Greek market, economy and stock market.» Vassilis Vlastarakis, analyst at Contalexis Financial Services, said Maillis’s expansion strategy has been highly successful so far as «it has always stuck to its main activity.»
