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Greece as energy hub: the Vertical Gas Corridor bet in a reshaping Europe

Dr Marios Efthymiopoulos tells Voria.gr how the Vertical Gas Corridor drives geopolitical upgrade, economic resilience and strategic confidence in a reshaping Europe

A day before the outbreak of war in the Middle East, following the United States and Israel's attack on Iran, a heated parliamentary exchange took place in Greece between Prime Minister Kyriakos Mitsotakis and the leader of the opposition, Nikos Androulakis, over energy policy. The debate revealed a broader shift in how energy is viewed in Greece, from just a price-based matter to one linked to national security and foreign policy. Mitsotakis stated, "We used to be on the margins of Europe's energy map. Today, 17 billion cubic metres of natural gas pass through the country and it has become a centre of energy security," referring to infrastructure such as the Vertical Gas Corridor (VGC) and ongoing research activities involving Chevron.

Following Russia's invasion of Ukraine, Europe continues to seek alternative energy arrangements, and Greece, due to its geographic position, is emerging as a supply hub for Eastern and Central Europe via the VGC. Dr Marios Panagiotis Efthymiopoulos, head of Strategy International and professor at Vytautas Magnus University, told Voria.gr that the project traces back to plans from 2008. "It is an old European idea, which for many reasons had not matured," he said, citing past geopolitical competition in the region.

According to Efthymiopoulos, the war in Ukraine created a geopolitical necessity for diversified energy routes, with Alexandroupoli becoming a strategic hub, while the corridor creates "emerging circular capital." Currently, Greece functions mainly as a transit hub, with associated infrastructure, employment and state revenue. However, the professor noted that full benefits might take at least a decade to materialise, given the scale of the required infrastructure and the integration of projects, including those linked to Chevron.

The United States' involvement in the VGC project is both commercial and political. Dr Efthymiopoulos states that an American-Greek consortium is being formed to facilitate knowledge transfer, and this convergence creates a security framework that protects the project from external pressures. "Despite the economic crisis, Greece remained consistent in its obligations. This is recognised and forms the foundation of the new energy architecture," he said.

Beyond infrastructure and commercial agreements, the project also has a defence dimension. Efthymiopoulos, who has served as political research staff at NATO, said that energy security is "one of the central pillars of the North Atlantic Alliance, alongside cybersecurity and hybrid threats." He dismissed the idea of Greece as a marginal player, stating, "Greece has been an equal NATO member since 1952. It has contributed, at least until 2001, more than one trillion euros in military and political infrastructure. Even during the economic crisis, when the spending threshold was 2%, Greece contributed 2.25%. It was we, Turkey, and Poland, who were the main pillars after the United States."

This consistency is now reflected in Greece's role through the VGC, including a cooperation framework involving Greece, Bulgaria, Romania, and the United States that extends security standards to Ukraine. Efthymiopoulos said, "If any sabotage occurs for political or military reasons by a foreign country, Greece can invoke NATO articles. Energy is now a field of collective defence."

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Referring to discussions at the Munich Security Conference, he described an "energy war" in Ukraine: "Ukraine is a country at war, not just a zone… Russia is destroying everything." He added, "Private companies are buying their own anti-aircraft systems… the largest energy company was recently attacked by 28 drones… Kyiv was left without electricity for 20 hours in midwinter." The VGC is enabling Ukraine to utilise its gas storage capacity, with LNG connections linked to the country's "strategic survival."

In his analysis, Dr Efthymiopoulos criticises Russia's strategy, calling it a "Rasputin policy" and accusing Moscow of historical revisionism that affects Greek interests. "Russia has not behaved well towards Greece at all. They are trying to erase the Hellenism of Azov, claiming that no one was there before the Russians," he said. He also argued that European actors misread Russia, stating, "Putin's Russia is an oligarchic regime that does not operate on democratic standards… their alliances are opportunistic."

Despite this, he suggested a potential role for Greek diplomacy, asserting that Greece could act as a mediator given its historical ties to the Pontic and Azov Greek communities. "We are a stable ally of the West… but this stability gives us the right to become the place where future major negotiations will take place," he said.

Infrastructure security remains a key concern for investment. Efthymiopoulos noted that risks of sabotage persist, saying, "It doesn't need to be organised by an army - it can be carried out by an individual actor," citing the Nord Stream 2 incident as an example. He also highlighted issues linked to "grey" imports of Russian natural gas, which may be relabelled to bypass European restrictions. "Do standards apply in illegality? I do not think so," he said, calling for "strict clauses, terms, and rules" and increased investment in universities and research to establish "a higher, transparent, and technically sound system."

Looking ahead, he proposed establishing a national investment fund, patterned after Norway's, to manage future revenues. "When Greece will have repaid its debt by 2068… what will we have left for our children?" he asked, and proposed infrastructure modernisation, energy and digital upgrades for islands, and investments in social cohesion.

By Vasilis Papoutsis - adapted from Greek by Vassia Barba