00:00First of all, thank you so much for being with us.
00:02Thank you. Thank you for having me.
00:04President Trump says there have been good talks with Iran.
00:07Iran, however, not confirming that at this point.
00:10I'd love to get your reaction to that.
00:12Well, we all hope that there are discussions and they will end the war
00:16because I think the stability in the region is very important.
00:20Greece is a strong ally of the U.S.
00:23It has used its patriot in Saudi Arabia in order to defend Saudi Arabia
00:29and as a member of the EU, it has been a strong partner for the U.S.
00:34in this military conflict.
00:37The Greek Prime Minister has said that the EU should have a permanent toolbox in place
00:41to help citizens and businesses with the economic effects of any crisis,
00:45including the current war.
00:47So what tools do you think that the EU should put in place,
00:50especially for situations like right now?
00:53The EU has some strong fiscal rules that do not allow part of your primary surplus
00:58to be used for households and social cohesion.
01:03I think in time of crisis, where the price of energy affects everyday citizens
01:08and affects the competitors of the European economy,
01:11it is important that countries that do have primary surplus
01:14to be able to use these resources in order to support their citizens and their economy.
01:20And Greece is one of the countries that has primary surplus because of its fiscal stability,
01:26and we are thinking of helping in terms of giving assistance
01:34for the increased cost of fuel and diesel for the everyday citizens.
01:39When you talk about increased fuel and diesel,
01:42how do you expect the impact of higher gas prices to play out in Greece
01:45and across Europe in the next 6 to 12 months?
01:47Listen, Greece has done a tremendous energy transformation.
01:53From 65% of electricity derived from lignite in 2005,
01:57we now have more than 55% of electricity coming from solar, wind and hydro,
02:05which means that this energy diversification allows Greece not to suffer the same way
02:11the increase of prices,
02:13because we have 55% of electricity coming from solar, wind and hydro,
02:17which in a way is a hedge for the increase of the prices.
02:21Still, a prolonged crisis would lead to an increase of the energy prices,
02:26which we don't want to happen.
02:28Greece, of course, known for its shipping industry.
02:31Is the government of Greece in talks with Iran now regarding the Strait of Hormuz?
02:35I could not comment on that, but you are right.
02:38Greece is one of the global powers in shipping,
02:42and shipping plays an important role in moving LNG,
02:46moving U.S. LNG to Europe,
02:48which helps Europe to phase out Russian gas,
02:51and therefore, I think the shipping industry will play a key role in the years to come
02:55for Europe's diversification from Russian gas to U.S. LNG.
03:00I do want to turn to the business industry,
03:02the drilling timeline for Chevron and ExxonMobil and their respective partners.
03:07This is a historic time for Greece.
03:10After almost half a century,
03:13Greece will have the first exploratory drilling in 12 months by ExxonMobil
03:18in the Ionian.
03:20And 10 days ago, we passed in the Greek parliament
03:24the agreements with Chevron and Hellenic Energy
03:27for seismic work below Crete.
03:31This is historic for Greece because Greece has never done significant moves
03:36in order to explore the hydrocarbon industry.
03:39So we're moving ahead.
03:41Greece does have aspirations to be a natural gas hub.
03:44So tell me about your near-term goals, what you're hoping to get done.
03:48Listen, as I said, we want, we have, Greece is, Greece in effect is a pillar,
03:53if not a beacon of stability in a very turbulent region.
03:56We have 55% of electricity coming from renewables.
04:00We want to continue, increase that.
04:02We want to increase storage because we don't have the right storage
04:07for the electricity we're producing from solar and wind.
04:09And we want to move ahead and develop the hydrocarbon.
04:13We want to be a natural gas producer in the years to come.
04:16We are a gateway for US LNG to go to the southeast region.
04:22And in effect, we are an energy hub for the entire region.
04:26Has all of this been set back because of the Iran war?
04:29No, I think one thing is clear.
04:32It accelerates the need to become a natural gas producer.
04:36It accelerates the need to increase the solar and wind electricity production.
04:41It accelerates the need to diversify and move away totally from Russian gas to US LNG.
04:48Appreciate your time.
04:50Thanks so much for being with us.
04:51Thank you for having me.
04:51Thank you for having me.
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