Electric interconnections-The backdrop of the energy situation

The challenges in transporting LNG to Asia, particularly due to the Panama Canal's restrictions on large LNG ships, have positioned Europe as a primary destination for American LNG exports. The European Union has significantly increased its reliance on U.S. LNG while simultaneously raising imports of Russian LNG, with Russia maintaining a notable market share. In 2024, natural gas exports from Russia and the U.S. to Europe were evenly matched, and sanctions did not prevent the continued growth of Russian LNG imports.

Despite Greece's considerable hydrocarbon potential, the country has not made the necessary investments to capitalize on these resources. Instead, Greece remains actively involved in electrical interconnector projects, such as those linking Israel, Cyprus, and Greece, as well as Egypt and Greece. These initiatives aim to enhance regional energy connectivity and security.

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