Powering the Region: Energy Security, Connectivity, and the Path to Implementation
By Alexandra Loli, PhD | Business Partners, Mar-Apr, 2026

The demand for energy in our modern world is rising steadily, accelerated by the rapid expansion of artificial intelligence and other energy-intensive technologies, and is already outpacing even the most ambitious efforts to curb consumption through efficiency alone. Energy policy is no longer merely a matter of infrastructure or technology; it has become a fundamental driver of economic competitiveness and geopolitical stability. For countries seeking sustainable growth in today’s increasingly volatile environment, ensuring access to reliable and affordable energy will be central to maintaining prosperity and resilience. In this context, the concept of energy addition, as emphasized by United States Secretary of the Interior Doug Burgum, offers a pragmatic framework for meeting rising needs without prematurely discarding viable sources.

Energy strategy is not only about meeting national needs but also about contributing to the stability and energy security of an entire region

As countries strive to uphold alliances and shared interests amid today’s shifting geopolitical landscape, they are called upon to end their dependence on strategically unreliable energy sources. Yet despite Greece’s firm commitment, replacing Russian gas is a complex and resource-intensive undertaking. Energy from trusted hydrocarbon partners, particularly liquefied natural gas (LNG) from the United States, is therefore critical for strengthening supply security and diversification. Thus, even though long-distance supply chains involve higher costs and infrastructure requirements that may slow rapid adoption, they represent an essential investment in longterm resilience.

At the same time, Greece is seeking to leverage its favorable geographic position to serve as a regional energy gateway. Initiatives such as the Vertical Gas Corridor can enhance connectivity, resilience, and market integration across Southeast Europe, strengthening both the country’s strategic influence and Europe’s broader energy security architecture. Ensuring the financial viability of such projects, however, requires coordination that extends beyond bilateral arrangements and is best addressed within a coherent European framework. For countries such as Greece, energy strategy is not only about meeting national needs but also about contributing to the stability and energy security of an entire region.

Renewed interest in exploring domestic hydrocarbons, supported by newly established lease agreements in the Ionian Sea and south of Crete, reflects a strategic effort to enhance energy security and strategic autonomy. This longterm process aligns with the principle of energy addition and could deliver meaningful trade-balancing benefits. While uncertainties remain regarding the scale of recoverable reserves, sustained commitment to exploration is an important component of a resilient energy strategy. Preliminary assessments suggest that viability could be determined within the next three to five years, potentially paving the way for production within six to ten years.

Energy strategy is not only about meeting national needs but also about contributing to the stability and energy security of an entire region

Greece’s recent investments in renewables have increased the share of these sources in the energy mix to a commendable level, with further expansion holding the potential not only to reinforce energy security but also to support electricity exports as grid capacity, interconnections, and storage systems improve. Maintaining this momentum, however, requires careful planning. Additional large-scale installations must be developed in ways that preserve the country’s unique natural landscape, on which the tourism sector depends, ensuring that energy diversification and environmental protection advance in parallel.

It may also be time to explore new forms of energy production, such as modern small modular reactors. In a country surrounded by nuclear power plants, public opinion remains understandably cautious but is increasingly challenged by evolving realities and technological progress. A fact-based national dialogue could help determine whether emerging nuclear technologies have a role in a diversified and resilient energy strategy.

Ultimately, energy policy must reconcile multiple objectives simultaneously. Security, affordability, sustainability, and competitiveness must advance together. In the years ahead, economic competitiveness will largely depend on a country’s ability to secure reliable, affordable, and sustainable energy. For Greece, this means embracing a diversified energy addition strategy that mobilizes every viable resource, strengthens regional cooperation, and supports investment in emerging industries such as digital infrastructure and data centers. In a world of rising energy demand, the real challenge is not replacing one energy source with another, but building a resilient and diversified energy mix capable of sustaining growth and stability for decades to come.

Energy strategy is no longer defined by intentions alone, but by the speed at which a nation converts geopolitical crises into opportunities for regional security. Within this framework, the Vertical Corridor currently represents the vanguard of energy defense for Southeast and Central Europe.

The strategic weight of this initiative was the focal point of a recent closed working meeting between the Energy Committee of the American-Hellenic Chamber of Greece and Joshua Volz, US Special Envoy for Global Energy Integration. The discussion reaffirmed the profound depth of the Greece-US energy partnership, with Washington viewing Greece as an indispensable partner for channeling US LNG to the Balkans and Ukraine. The effectiveness of the Vertical Corridor extends beyond mere physical infrastructure. Realizing this strategic vision requires a decisive market signal, generated through coordinated regulatory and political interventions at EU level, aimed at dismantling cross-border bottlenecks.

Energy security cannot rely solely on imports, however diversified they may be

The urgency for such alternative routes is underscored by the perfect storm currently impacting global markets. Geopolitical tensions in the Middle East have transitioned from political signaling into structural operational risk, forcing markets to reprice the security of the Strait of Hormuz. The data is revealing: In early March 2026, European gas benchmarks (TTF) surged to €57.72/MWh, an increase of nearly 90% compared to the 2025 average. While the Strait of Hormuz channels 20% of global LNG trade, research by the HELLENiQ ENERGY Center for Sustainability and Energy at Alba Graduate Business School (detailed in our analysis in Decoding Energy News) highlights a dangerous structural asymmetry compared to oil. While oil transit can utilize bypass pipelines with a capacity of 8.8 mb/d, LNG exports have no overland alternative. This vulnerability became a reality when Qatar, which exported 84 million tonnes (MT) of LNG in 2024, temporarily halted production due to security risks. In this vacuum, US LNG, which led global exports in 2024 with 88.4 MT, stands as the only reliable bedrock of European stability.

This extreme vulnerability of international transit points, such as the Strait of Hormuz, highlights a critical truth: Energy security cannot rely solely on imports, however diversified they may be. The strategic response to global supply shocks must include the development of domestic resources. Consequently, Greece has moved into a phase of strategic discipline in the upstream sector, marked by the landmark agreement signed on February 16, 2026.

The entry of Chevron alongside HELLENiQ ENERGY for offshore blocks in Crete and the Peloponnese nearly doubles the country’s exploration acreage. This partnership with a major US company is transforming Greece from a transit hub into a potential producer. Domestic hydrocarbon production serves as the ultimate geopolitical shock absorber, reducing dependence on the volatile maritime routes of the East.

This evolution is the direct result of a sustained and high-level bilateral dialogue. The AmCham Greece Energy Committee remains at the forefront of this transformation. As a primary institutional body with deep technical and scientific expertise, the Committee works systematically to deepen the Greece-US energy partnership, ensuring our country serves as an indispensable energy guarantor for Southeast Europe and beyond.

Greece–US relations have long been strong thanks to deep economic, strategic, and cultural ties driven by partnerships across key sectors, including energy—an area of close cooperation that has recently gained increased attention. One of the key elements of this cooperation is the Vertical Gas Corridor, a strategic pipeline initiative connecting Greece northward to Bulgaria (through the Interconnector Greece-Bulgaria (IGB)), Romania, Moldova, and Ukraine.

The pipeline will strengthen Greece’s role as an entry point into Europe for the growing volumes of US LNG, which nearly doubled in 2025 compared to 2024 and accounted for roughly 80% of all LNG received at Greek terminals. The Greek‑owned fleet remains a significant service provider in this trade.

The Vertical Gas Corridor’s strategic value can be further strengthened through integration with emerging regional energy hubs

The project leverages DESFA’s (the Greek National Natural Gas System Operator) transmission infrastructure, the Revithoussa LNG Terminal, and the Alexandroupolis Floating Storage and Regasification Unit (FSRU), with the latter two serving as key gateways for US LNG into Europe.

Beyond secured US LNG or potential quantities from other established fuel trade routes, the Vertical Gas Corridor’s strategic value can be further strengthened through integration with emerging regional energy hubs. These include Egypt, leveraging its established gas fields, expanding renewables, and green‑hydrogen projects, as well as Saudi Arabia, with its Neom megaproject, a planned city and innovation hub with a utility-scale green hydrogen plant capable of producing over 200,000 tonnes of green hydrogen per year. A special mention should also be made to the India-Middle East-Europe Economic Corridor (IMEC), a transformative connectivity initiative connecting India to Europe via the Middle East, reshaping Eurasian trade and energy flows.

The Vertical Gas Corridor reinforces Greece’s role in present and future energy networks, advancing diversification, regional connectivity, and longterm cooperation with key international partners.

The past year has highlighted both the structural weaknesses and the unresolved challenges of Greece’s energy system. Widespread curtailment of renewable generation, slow progress in new energy storage (BESS) connections, and a net billing program that fell short of expectations all point to a mismatch between planning and implementation.

Renewable self-consumption and storage penetration remain among the lowest in Europe. By the end of 2024, out of nearly 10 GW of installed photovoltaic capacity, less than 900 MW—under 10%—were self-consumption systems, while European households and businesses consistently account for over 50% of new installations. Similarly, despite the National Energy and Climate Plan (NECP) target of 4.3 GW of battery systems by 2030, only limited residential storage projects have been deployed, with industrial and utility-scale applications largely absent. At the same time, smart meter rollout is slow, and Greece’s simultaneous engagement in major US hydrogen agreements sends mixed signals on longterm energy strategy.

Consumers, from households to SMEs, must become active participants in the energy system

Renewables, particularly photovoltaics, have undeniably become the cheapest and most sustainable form of electricity. The challenge is no longer expanding installed capacity but integrating it effectively: without storage, flexible grids, and active consumer participation, green energy risks becoming a liability rather than an asset.

To make 2026 a turning point, coordinated action is essential: updating the NECP to reflect today’s market realities, streamlining permitting and regulatory enforcement, investing in modernized grids, and leveraging demand-side flexibility through self-consumption and dynamic pricing. Consumers, from households to SMEs, must become active participants in the energy system.

Engaia is leading the way with 126 MW of hybrid utility-scale projects, 455 MWh of storage, and extensive self-consumption solutions. Initiatives such as Engaia Charge and virtual net metering programs demonstrate that smart integration of renewables can deliver resilience, affordability, and sustainability. With realistic planning and citizen engagement, Greece can turn the energy transition from a challenge to a driver of sustainable growth in 2026 and beyond.

The energy landscape of the Eastern Mediterranean and Southeast Europe is undergoing a profound transformation. In a region historically defined by its strategic geography and diverse energy resources, the next phase of development will be shaped not only by infrastructure and supply routes but also by the capabilities of major energy players and the integration of advanced technologies.

Large energy companies play a crucial role in mobilizing the scale of investment required to expand and modernize energy systems. From natural gas infrastructure and cross-border interconnections to offshore exploration and renewable energy deployment, these actors bring the financial capacity, technical expertise, and experience necessary to translate ambitious plans into operational assets. Their participation also strengthens the region’s integration into global energy markets, enhancing both competitiveness and security of supply.

Emerging technologies are unlocking resources and capabilities that were previously difficult or uneconomical to access

At the same time, technological innovation is redefining how energy systems operate. Digitalization, artificial intelligence, and advanced data analytics are enabling more efficient energy production, smarter grid management, and improved demand forecasting. Emerging technologies in offshore exploration, subsea infrastructure, and energy storage are unlocking resources and capabilities that were previously difficult or uneconomical to access.

Equally important is the growing role of integrated energy systems. The combination of renewables, flexible gas infrastructure, storage solutions, and digital grid management can provide the resilience required for a secure and sustainable transition. In this context, the collaboration between technology providers, energy companies, and policymakers becomes a key factor in shaping the region’s longterm trajectory.

The transition to a sustainable energy model requires solutions that ensure grid stability and optimal energy management. At Eunice Energy Group, we develop smart microgrids that combine renewable energy generation with advanced storage and management systems. Our strategy primarily focuses on interconnected (on-grid) systems, which enable bidirectional energy exchange. Through these systems, we achieve load balancing, minimize transmission losses, and facilitate the seamless integration of green energy into the central grid.

Simultaneously, our systems offer the capability of an immediate transition to fully autonomous (off-grid) operation. This backup capability acts as a protective shield, ensuring uninterrupted power supply during grid disturbances. Our expertise is reflected in the pioneering on-grid microgrid of the island of Tilos, which serves as a model for grid stabilization, as well as in the off-grid system of the island of Farmakonisi, which guarantees absolute energy autonomy for the Hellenic Armed Forces.

The transition to a sustainable energy model requires solutions that ensure grid stability and optimal energy management.

However, the true potential of these infrastructures is realized through their synergy with e-mobility. Joltie, a member of Eunice Energy Group, is developing a modern network of smart charging stations that integrate harmoniously into our microgrids. Through this interconnection, the charging of electric vehicles does not burden the system; instead, it utilizes locally generated clean energy, effectively smoothing out demand peaks.

By combining the energy generation and storage capabilities of on-grid microgrids with Joltie’s infrastructure, we are creating a unified, smart ecosystem. In doing so, we are not merely offering isolated services but comprehensive green solutions that fortify energy security and pave the way for a truly sustainable future.

The global energy landscape has changed significantly in recent years. Geopolitical tensions, supply chain disruptions and growing energy demand are the new reality. In this evolving environment, the Eastern Mediterranean and Southeast Europe are emerging as increasingly critical regions for Europe’s energy system. Their geographic position, combined with expanding energy infrastructure and growing investment in both conventional and low-carbon energy, creates new opportunities for regional cooperation and energy connectivity.

At HELLENiQ ENERGY, our strategic transformation reflects this new reality. Over the past few years, we have evolved from a predominantly domestic fuels company into a diversified regional energy group, operating across the entire energy value chain—from upstream exploration to refining, trading, power generation, and renewable energy. This transformation strategy is built on a balanced approach: strengthening our core industrial and trading activities while developing a strong new energy platform in electricity and renewables across Southeast Europe.

The path toward a sustainable energy future requires reliable infrastructure, diversified energy sources, and forward-looking investments

Today, HELLENiQ ENERGY’s operating power capacity exceeds 1.4 GW (of which 0.8 GW is thermal capacity and more than 0.5 GW is renewable capacity), with a RES development pipeline surpassing 6 GW, while our refining and logistics infrastructure continues to support energy security and regional supply. The recent restart, by our Group, of the Vardax pipeline, which carries fuel products from Greece to the Republic of North Macedonia, is another proof point of our diversification strategy and focus on operational excellence and resilience.

Clearly, the path toward a sustainable energy future requires more than technological advances. By combining reliable infrastructure, diversified energy sources, and forward-looking investments within a context of realistic transition, Europe can strengthen its energy resilience and competitiveness in the years ahead, securing access to affordable energy for all.

Europe has taken decisive steps toward reducing its dependence on Russian gas and strengthening its energy security. Yet, securing alternative fuel supply alone cannot guarantee energy resilience.

As Europe accelerates the transition from fossil fuels to electricity, new structural challenges are emerging that remain insufficiently addressed. The increasing reliance on renewable energy, combined with surging demand for electricity, is fundamentally changing how power systems operate. Renewable generation, particularly wind and solar, is inherently variable, introducing production uncertainty and increasing balancing requirements across electricity networks. As renewable penetration grows, these fluctuations will progressively exceed the flexibility that traditional generation sources can reliably provide.

In the next phase of the energy transition, digitalization will be as critical to resilience as generation capacity itself

At the same time, the rapid expansion of distributed generation, especially rooftop photovoltaic installations, adds further complexity to distribution networks. As more consumers become producers, demand patterns become less predictable, often fluctuating precisely when grid stability is most vulnerable.

Energy storage will play an important role in addressing temporary imbalances. However, storage alone cannot provide a comprehensive solution for longterm system stability. In parallel, the increasing frequency of extreme weather events introduces an additional layer of uncertainty, as periods of reduced renewable generation may coincide with spikes in electricity demand.

In this evolving landscape, resilience will depend not only on energy availability but on the ability to manage power flows dynamically across the system. As variability increases, driven by weather conditions, energy mix changes, and evolving consumer behavior, the electricity sector must move from traditional energy management toward real-time power management, where production and consumption are continuously balanced across the system.

Real-time coordination of production and consumption will be essential to maintaining grid stability and ensuring the success of the energy transition. Europe estimates that around 40% of electricity demand may need to be actively managed by 2035 to maintain system balance. While legislation and market incentives are gradually emerging, a critical gap remains: the digital infrastructure required to orchestrate supply and demand in real time.

The technologies exist. What is now required is the accelerated deployment of unified digital systems capable of enabling automated balancing across increasingly complex electricity networks. In the next phase of the energy transition, digitalization will be as critical to resilience as generation capacity itself.