Strengthening bilateral economic cooperation between Romania and Greece, with a focus on fiscal reforms and identifying strategic opportunities for joint investments in energy, transport and digital infrastructure, is on the agenda of talks between Finance Minister Alexandru Nazare and his Greek counterpart Kyriakos Pierrakakis, as the Romanian official is on a working visit to Athens November 5 to 7. On this occasion, he will have an official meeting with Greek Minister of Economy and Finance Pierrakakis, in the context of the sixth Partnership for Transatlantic Energy Cooperation (P-TEC) and of the Ministerial Meeting on the Vertical Gas Corridor, organized in the Greek capital.
The topics of discussion include Romania's vision of becoming a regional energy hub for natural gas and electricity, by capitalizing on existing infrastructure and ongoing projects; Greece's role as a gateway to alternative energy sources, including liquefied natural gas and cross-border interconnections, with potential for direct cooperation with Romania; cooperation in the field of economic reforms, digitalization of public services and simplification of tax procedures to stimulate foreign investment and support the business environment.
The Romanian Finance minister will also participate in a series of discussions with the Energy ministers of the Vertical Corridor countries - Greece, Bulgaria, Romania, the Republic of Moldova and Ukraine - examining ways to reduce barriers to the extended use of the Vertical Corridor.
"The Vertical Energy Corridor is a regional initiative of strategic importance which will ensure the transport of natural gas from the south to the north of Europe, bringing gas from the Caspian Sea area (mainly Azerbaijan), as well as liquefied natural gas from terminals in Greece and Turkey, including from the United States of America. This project directly contributes to diversifying supply sources, increasing the energy resilience of Central and Eastern Europe and reducing dependence on single suppliers," the Ministry representatives said in a statement.
According to the cited source, Romania has a central role in the Vertical Corridor project, due to its strategic geographical position, interconnection network and developed infrastructure such as the BRUA pipeline, integrated into the Vertical Corridor system. This turns Romania into a regional hub for natural gas transport and distribution and into an active promoter of European and transatlantic energy resilience.
On sidelines of the forum in Athens, meetings are scheduled with the U.S. Secretary of Energy Chris Wright and with the U.S. Secretary of the Interior and Chairman of the National Energy Dominance Council Doug Burgum, aiming to strengthen transatlantic cooperation in the fields of energy, investment and security of critical infrastructures.
"Romania's active participation in the P-TEC initiatives will contribute to increasing its visibility in Central and Eastern Europe, to our country's access to international financing and modern technologies for the modernization of energy infrastructure, as well as to promoting private investments and public-private partnerships in the field of energy and green transition," the cited release also notes.
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