2017 has been another year marked by regional geopolitical tensions and rivalries but despite this very high level of volatility, new exploration projects are underway in Greece and Cyprus creating new potential for investments in the oil & gas industry. At a global scale, the uncertainties created by Brexit and the renewed friction in US-Russian relations continue to mar the possibility for regional stability as US and EU sanctions against Russia remain in full effect. The new set of challenges that will affect EU’s Climate and Energy Policy to 2030 and beyond after President Trump’s decision to withdraw from the Paris Climate Accord.
For Greece, despite the continued severe fiscal austerity, energy sector managed to attract significant investment in 2017, especially through the partial privatization of ADMHE, the Electricity Transmission System Operator. New projects are also being developed with relative robustness in the RES and Efficiency sectors as the government introduced new and more-market oriented financial support framework. The Natural Gas Public Co, is moving forward with new projects to expand its regional pipeline network and increase the use of natural gas for electricity generation and marine transportation as competition conditions improves for the electricity retail market.