Policy Recommendations

1
Continue to support Greece’s drive to become a regional energy hub,

including through projects that contribute to energy diversification and the integration of the pipeline network in Southeast Europe, a region where gas markets are less interconnected and more reliant on Russia.

2
Incentivize regional cooperation such the Three Seas Initiative,

thereby adding the Aegean as a new corridor to Central Europe’s energy network, and turning the 3+1 mechanism with Israel, Greece, and Cyprus into a quad, with a bigger role for the U.S. and renewables.

3
Leverage Greece’s ambitious green transition targets

and its position as a top producer of renewable energy to increase green energy production in the region, including by using the Energy Hydrogen Shot to develop renewable hydrogen that can be exported to Central Europe from or via Greece.

4
Work closely with Greece to identify energy projects of high priority

and develop flexible and innovative solutions of financial support from official and other sources, including from the Development Finance Corporation.

5
Support electricity interconnectors between Europe, Asia, and Africa

to transmit an increasingly green share of electricity from Israel, Egypt, and beyond, opening the European market to renewable energy from a region that is particularly impacted by climate change.

6
Review all options for bringing Eastern Mediterranean gas to Europe,

under the light of the ongoing geopolitical and energy crisis: via LNG in the short to medium term, and potentially via the East Med Gas Pipeline or its possible improvements in the medium term.

7
Support the development of storage facilities in Greece

New gas storage, such as the Kavala underground storage facility, can help increase the energy security of Greece and Southeastern Europe.

8
Keep the taps open for US LNG to flow to Greece

and encourage booking long-term capacity to help Greece and the region address potential gas-supply problems, especially in case of a sudden stop in Russian gas supplies.

9
Deepen the energy partnership in the bilateral strategic dialogue

and establish a US-Greece Energy Center focusing on R&D in renewable energy to accelerate the green transition while benefiting bilateral trade and investment.

10
Drive technological innovation on energy

and actively support regional cooperation by setting up the Congress-supported US-Eastern Mediterranean Energy Center, expanding its reach to also include renewable energy.