Minister, Timmermans discuss key energy transition aspects

Prospective EU law for an emission trading system covering the shipping sector, short-term financing for natural gas-fired power stations, as well as the establishment of a decarbonization fund for the Greek islands, three key aspects of the country’s energy transition strategy, were discussed by energy minister Kostas Skrekas and The European Commission’s Executive Vice President Frans Timmermans, heading the European Green Deal, at a meeting in Luxembourg yesterday.

Their discussion was held on the sidelines of a meeting of EU energy ministers.

Skrekas, according to sources, requested substantial Greek involvement in the preparation of the legislative proposal for a European shipping-sector emission trading system, stressing that Greek-owned ships represent 58 percent of the EU fleet.

In raising the subject of short-term financing for natural gas-fired power stations, the minister highlighted that natural gas promises to play a crucial role in the country’s energy transition towards carbon neutrality.

Skrekas also requested an acceleration of procedures leading to the activation of the decarbonization fund for the Greek islands.

The government hopes Greece will receive funding support for projects worth 1.25 billion euros, intended to help the country reach its climate-change goals. Timmermans, according to the energy minister, pledged further EU funding support for Greece in this domain.