The geopolitical chessboard of the Eastern Mediterranean is heating up. With energy — and more specifically LNG and hydrocarbons — as its “weapons,” Greece is moving ahead with a diplomatic initiative of great importance. While the EU has decided to ban Russian natural gas imports from 2028 and the United States is offering LNG as a replacement, Athens will host on November 6 and 7 the Partnership for Transatlantic Energy Cooperation (P-TEC).
Twenty-four European countries, including an EU delegation, the US, and at least 17 multinational groups from the energy, technology and AI sectors will take part in two forums held in the Greek capital on those dates.
The P-TEC
The sessions of the P-TEC are being organized by Greek Minister of Environment and Energy Stavros Papastavrou and US Secretary of Energy Chris Wright, with the participation of US Secretary of the Interior Doug Burgum — making his second official visit to Greece in less than two months — and Deputy Secretary of State for Management and Resources Michael Rigas. A total of 400 officials will be in Athens on November 6 and 7.
The Partnership for Transatlantic Energy Cooperation (P-TEC) was founded on the initiative of former US Energy Secretary Rick Perry within the framework of the Three Seas Initiative. The Three Seas Initiative is a regional cooperation platform established in 2015 by Poland and Croatia, aiming to strengthen ties among countries located between the Baltic, Adriatic and Black Seas. Its main pillars are energy, infrastructure and digital connectivity.
The goal of the P-TEC is to enhance energy interconnection, security and cooperation between the countries of Central and Eastern Europe and the United States. The initiative focuses on joint energy infrastructures — electricity grids, pipelines and transport networks — aiming to create a sustainable, resilient and cooperative energy market that delivers economic, environmental and social benefits.
Member countries of P-TEC, which will be represented in Athens by their energy ministers, include Albania, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, the European Union, Georgia, Germany, Greece, Hungary, Kosovo, Latvia, Lithuania, Moldova, Montenegro, North Macedonia, Poland, Romania, Serbia, Slovakia, Slovenia, Ukraine and the United States of America.
The EU will be represented by Ditte Juul Jørgensen, Director-General for Energy at the European Commission.
The companies
Energy giants, mainly from the United States and active in LNG, hydrocarbon exploration and production, as well as in digital technology and AI, will be in Athens during the P-TEC meetings. According to sources, their presence demonstrates their intention to strengthen the US and EU strategy for increasing LNG imports into Europe as a substitute for Russian natural gas.
Greece, through the LNG terminals of Revithoussa and Alexandroupolis, and via the Vertical Corridor and pipeline network connecting Greece, the Balkans and Ukraine, aspires to play the role of a main gateway for American gas into Europe.
In the future, if Chevron and ExxonMobil discover natural gas deposits in offshore areas of Crete and southern Peloponnese, Greece could also become an energy producer and supplier for Europe.
Major energy groups will be present in Greece. Participating companies include ExxonMobil, Woodside Energy, ConocoPhillips, Cheniere, and other LNG-focused firms such as Venture Global LNG, Excelerate Energy and LNG Allies, as well as energy infrastructure companies like Italgas (gas network operator), DTEK, Westinghouse, Global Vision, Concelex, Baker Hughes, E-INFRA, and EQT.
Particular interest also surrounds the presence in Athens of executives from Google and Amazon. The two leading technology companies are investing in data centers and seeking energy sources to power their operations.
Greek companies will also take part in the P-TEC business forum, held alongside the ministerial meetings. Participants include Public Power Corporation (PPC), HELLENiQ ENERGY, DEPA Commercial, ADMIE, Metlen, Motor Oil, GEK TERNA, and shipping companies, according to reports.
Security and investment
On the first day of the conference, November 6, ministers, institutional representatives, international organizations and senior executives from the US, Europe and Greece will discuss new energy trends and the conditions needed for a secure, sustainable and competitive energy market.
The sessions will be opened by US and Greek Energy Ministers Chris Wright and Stavros Papastavrou with a fireside chat, followed by a likely address by US Secretary of the Interior Doug Burgum.
Among the topics to be discussed in the panels are:
- the role of natural gas in Europe’s new energy geography,
- the Vertical Gas Corridor,
- attracting investment capital for energy infrastructure,
- the contribution of energy to the development of artificial intelligence,
- energy system resilience, and
- emerging technologies.
The first day will conclude with an official dinner for high-level guests. A panel dedicated to Greece will be of special importance, during which the country’s political leadership will present both its current achievements and its medium- and long-term plans in the energy sector.
The second day of the conference, on November 7, will be dedicated to the ministerial sessions of P-TEC, with the participation of energy ministers and senior representatives from the member countries.
Discussions will focus on enhancing energy security and supply resilience, strategies for sustainable energy infrastructures, and the role of liquefied natural gas (LNG) as a driver of competitiveness and regional stability.
