AXPC Statement on Prime Minister Kyriakos Mitsotakis Address to Congress

WASHINGTON – May 17, 2022 – Today, American Exploration and Production Council CEO Anne Bradbury released the following statement in regard to the Prime Minister of Greece, Kyriakos Mitsotakis, address to the United States Congress:

Today, Congress and the Administration heard firsthand from Prime Minister Mitsotakis about the important role that US natural gas plays in helping Greece – and the world – reduce its reliance on Russian energy.  The world needs more US energy to fully realize the security, economic, and environmental goals that we share with our allies.

As Greece and many of their counterparts in Europe continue to invest and build LNG import facilities to wean themselves off Russian gas, Congress and the Administration should do everything in their power to support increased US energy production here at home.  We believe that starts with a public signal of support for American energy’s critical role in the global energy portfolio – not just now, but for the long run.  And we believe it continues with supportive policies and regulations that help grow the production, transportation, and market access for American energy.

Background:
During his address to the Untied States Congress on May 17, 2022, Prime Minister Mitsotakis said that: “As we seek to rapidly diversify away from Russian gas, investing in the necessary infrastructure that will make it possible to import large quantities and liquefied natural gas becomes critical. Not just for Greece but also for our Balkan neighbors.”

A new floating storage and regasification unit (FSRU) is being located off the port city of Alexandroupolis, Greece – a major new development to boost energy security for the wider Balkan region. Upon completion (which is expected in 2023), it will be the second import gate of liquefied natural gas in Greece, making the country a gas hub for transportation of LNG into the EU.

Russia currently supplies about half of the 10-11 billion cubic metres (bcm) annually consumed in southeast Europe. The FSRU Alexandroupolis will double Greece’s LNG liquification capacity, offering a capacity of about 5.5 bcm.

Through this and other recent LNG import projects and pipelines, European countries like Greece, Bulgaria, Romania, Serbia, and North Macedonia (and in the future Moldavia and Ukraine) will be able to receive additional supplies of US LNG, further reducing the region’s dependency on Russian gas.

 

About the American Exploration and Production Council:
AXPC is a national trade association representing the largest independent oil and natural gas exploration and production companies in the United States. We lead the world in clean and safe onshore production of oil and natural gas, while supporting millions of Americans in high-paying jobs and investing a wealth of resources in our communities. Learn more at https://www.axpc.org/

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