Prime Minister of Greece, Kyriakos Mitsotakis, paid a two day visit to Saudi Arabia, where he met with Crown Prince Mohammed bin Salman.
The two leaders decided to set up a bilateral Supreme Council of Cooperation, to expand bilateral cooperation in investments, tourism, defense and energy.
On the latter, speaking at the Future Investment Initiative forum, the Greek Prime Minister presented specific ideas.
Among them the electricity interconnection of Saudi Arabia with Greece and the rest of Europe.
Greece has already signed an agreement with Egypt for an underwater cable that will carry electricity, produced by the sun, from Egypt to Greece and further on to the European Union.
Speaking at the forum, Mitsotakis said:
“I am sure there will be a lot of interest in extending this agreement to Saudi Arabia. The region has the potential to generate very cheap electricity from renewable sources – and I am referring primarily to the sun – there is common interest to transfer this electricity to the European market. How can this be possible? It could be done by establishing an interconnection either from Egypt or from Israel to Greece. And then from Greece, electricity could pass to the European market.”
Kyriakos Mitsotakis also referred to natural gas projects, calling natural gas the “transition fuel of the foreseeable future”.
“How can we exploit gas reserves in the Eastern Mediterranean and the Middle East?” Mitsotakis said. “Various ideas have been proposed. It could be a pipeline, the East Med pipeline for example, that would transport gas from Cyprus/Egypt/Israel to Greece. It could also be a network for liquefied natural gas from Egypt. The liquefied gas could be regasified in Greece to supply not only the Greek network, but also the European gas network.”