What changed
2026-09-07 11:00 UTC → 2026-09-08 20:25 UTC ·
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Southeast Europe regional energy and maritime cooperation
At the 10th Southeast Europe Energy Forum in Thessaloniki, regional leaders and diplomats discussed the strategic evolution of Greece and its neighbors as energy hubs. US Ambassador Kimberly Guilfoyle noted Greece is transitioning from an energy consumer to a regional supplier, a shift supported by the US to enhance ally energy independence. Central to this is the expansion of the Vertical Corridor toward Serbia and North Macedonia to diversify Regional energy sources and reduce reliance on Russian gas. Following the signing of a Memorandum of Cooperation for the Vertical Corridor, DESFA and regional operators maritime cooperation efforts have entered a 90-day period to assess capacity needs and infrastructure requirements. While infrastructure has been upgraded, industry experts intensified through discussions at a DEPA Eemporeias event warned that commercial viability depends on securing long-term supply contracts rather than relying on the volatile spot market. Leaders from IGB Southeast Europe Energy Forum and DESFA emphasized the need to increase usage of the Greek-Bulgarian pipeline to support Northern markets. 90th Thessaloniki International Fair. Cypriot Minister Michalis Damianos reinforced reiterated the need for cooperation necessity of collaboration between Greece, Bulgaria, Romania, and North Macedonia, noting Macedonia to ensure energy security and competitiveness. He noted that Cyprus could remains on track to potentially become a natural gas producer by 2028 through 2028, supported by the ‘3+1 framework’ involving Cyprus, Greece, Israel, and the United States. Additionally, US Secretary In the petroleum sector, Helleniq Energy announced the reactivation of State Marco Rubio is expected the Vardax pipeline, which connects Thessaloniki to visit Athens soon North Macedonia. Expected to underscore begin operations in early 2026, the strategic partnership. Beyond gas, upgraded pipeline aims to transport 2.5 million tons of crude oil and petroleum products annually. Meanwhile, the Great Sea Interconnector (GSI) project, intended to link the electricity grids of Cyprus and Greece, is facing scrutiny regarding rising costs. While initial capital expenditure for the cable is estimated at €1.9 billion, Cypriot officials warned that total costs including maintenance and insurance will be significantly higher. A feasibility study from the European Investment Bank is expected by year-end to assess economic viability. Regarding maritime affairs, Greek Minister Vasilis Kikilias discussed expanding maritime has sought to expand technological cooperation with Japan, specifically regarding Japan. Building on existing shipbuilding and ties, Kikilias expressed interest in incorporating Japanese coast guard expertise, while addressing maritime fuel policies expertise and operational vessels into the partnership. He also emphasized the need for bilateral cooperation within the International Maritime Organization. Organization to manage maritime fuel policies and mitigate inflation risks during regulatory transitions.