Greece’s Energy Minister has described the latest developments in global energy and maritime routes as a “first step” toward easing tensions, while warning that authorities remain on high alert due to continued instability.
Speaking about recent announcements regarding a temporary ceasefire and the reopening of key shipping passages, Energy and Environment Minister Stavros Papastavrou said the move could help restore commercial navigation and potentially stabilize energy prices.
Cautious optimism over energy prices
Papastavrou noted that the reopening of strategic maritime routes is particularly important for international trade and shipping, an industry in which Greece plays a significant role. He said the development may contribute to easing pressure on energy markets, although he stressed that the situation remains fragile.
He emphasized that the ceasefire is temporary and that there can be no certainty it will hold, adding that authorities are not lowering their guard.
“We hope this will lead to a de-escalation in energy prices,” he said, underlining that any improvement in stability would depend on sustained calm in global routes and markets.
Energy security and ongoing monitoring
The minister highlighted that Greece is maintaining constant monitoring of energy supply conditions to ensure security of supply for at least 90 days. He said ongoing volatility in global markets is creating significant pressure on reserves, requiring continuous coordination with market operators.
A government meeting was held ahead of the Easter period to assess system stability, particularly given fluctuations in electricity production and demand.
Papastavrou added that energy storage remains a key challenge, noting that new battery systems have recently been connected to the grid, with further expansion planned in the coming years to strengthen long-term stability.
Future energy projects and exploration
The minister also referred to upcoming energy initiatives, including planned agreements for offshore exploration activities. He said that Greece is moving forward with preparations for exploratory drilling expected in early 2027, marking what he described as the country’s first such effort in decades.
Additional seismic surveys are also expected to begin in other offshore areas before the end of the year, involving international energy companies.
Papastavrou concluded that while progress is being made, Greece’s long-term strategy is focused on strengthening domestic energy resources and reducing external vulnerabilities, stressing that “we are moving forward at a fast pace.”
