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Ballas, Pelecanos & Associates LPC participates in Capital Link’s 18th Annual Invest in Greece Forum

Monday, December 12, 2016


Energy Sector: Trends, Developments & Outlook

Moderator: Mr. Gregory Pelecanos, Senior Partner – Ballas, Pelecanos & Associates LPC

Mr. Pablo Escondrillas, Managing Director, EMEA Power & Utilities - CITI
Mr. Manolis Panagiotakis, Chairman & CEO - Public Power Corporation S.A.
Mr. Rikard Scoufias, Country Manager Greece - Trans Adriatic Pipeline (TAP)
Mr. Gregorios Stergioulis, Chairman & CEO - Hellenic Petroleum SA
Mr. Arnaud Jossien, Director – CEE, CIS & Israel – BNP Paribas
Mr. Gregory Pelecanos: “The Greek Energy sector is facing a multitude of challenges, international, European and domestic. International and European challenges include:

  1. the effects of the international economic and financial trends on global energy markets,
  2. environmental obligations (Paris Agreement on climate change, the UN 2030 agenda on viable development, Europe 2020 and 2050)
  3. geopolitics and trade routes (OPEC, Iran, China, Russia, shale etc) Specific Greek challenges include the development of a national energy strategy taking into account:
  4. Developing regional energy markets
  5. Oil &Gas deposits in Eastern Mediterranean
  6. Diversification of resources to meet climate and cost reduction targets
  7. Privatizations and market liberalization
  8. Financing

Panelists R. Skioufas (Country Manager, TAP), G. Stergioulis ( CEO, HELPE) and E. Panagiotakis (Chairman and CEO, PPC) all distinguished managers heading crucial energy sector companies, along with A. Jossien (Director, BNP Paribas Corporate Finance) and P. Escondrillas, (Managing Director, EMEA Power & Utilities CITI) both with extensive experience in project finance related to energy projects in Greece and the broader region, discussed the impact of these challenges noting that Greek energy companies are meeting these challenges through innovation and continuous investments to ensure competitiveness, while the further development of the Greek energy market presents significant investment opportunities”.

Mr. Manolis Panagiotakis: “PPC is a vertically-integrated electricity company, one of the largest industrial groups in Greece in terms of revenues and fixed assets, and is active in all segments of the Greek electricity market, from mining to electricity supply, having an asset base of 13.8 billion euros. Responding to the challenges faced by the European electricity sector and the Greek electricity market in specific, which is undergoing significant reforms and needs to transition to the European Target Model, PPC is adjusting its strategy focusing on the renewal and the environmental upgrade of its generation fleet, the acceleration of the implementation of Renewables investments and the diversification in other markets and products, also through joint ventures and strategic alliances”.

Mr. Rikard Scoufias: “The Trans Adriatic Pipeline (TAP) is an energy infrastructure project, currently implemented in Greece, Albania and Italy, funded by an international consortium of established companies. Part of the extensive Southern Gas Corridor, TAP is a €2 bn direct foreign investment, facilitating the EU goal of energy diversification, transforming Greece and South-eastern Europe into a true energy hub, contributing to the area’s development and growth and employing the services of local companies, enriching their expertise and generating jobs. Furthermore, its realization serves as a roadmap for successful future endeavours, enhancing investor confidence in the country, and paving the way for further large-scale investments. As of May 2016 the TAP project has entered its construction phase leveraging the support of competent State authorities, local administration and communities, and building on its values of collaboration, compliance with stringent international standards, commitment to local societies and effort. The message TAP’s implementation conveys is simple and strong: Greece offers investment and business opportunities, provided that the pertinent investment plans are drafted and executed with care, dedication and respect towards local communities.”

Mr. Gregorios Stergioulis: The development of a reliable, long-term National Energy Planning is an absolute priority to create a stable investment environment in Greece, to accelerate the development process and the country to become a regional energy hub of strategic importance, noted the CEO of HELLENIC PETROLEUM S.A., Mr. Grigoris Stergioulis speaking at the 18th Capital Link “Invest in Greece” Forum, at a panel discussion on "Energy Sector: Trends, Development & Outlook". Mr. Stergioulis supported that in the core of the design for equitable and sustainable development must be a balanced relationship between the Environment and Energy and pointed the need of cross border cooperation between countries in order to achieve the global objectives on Climate Change. Referring to Hellenic Petroleum, he outlined the Group's desire to hold a leading role in the whole energy section in the coming years and to strengthen its position as the leading Energy Group in SE Europe. He set the objective of ensuring the presence of refineries of Hellenic Petroleum at 25% of the top refineries worldwide, argued that a strategic option for the Group is the discovery and production of hydrocarbons in Greece and also expanding partnerships with leading international companies in the sector, while HELLENIC PETROLEUM will seek to enhance their participation in the areas of Renewable Energy, Electricity and Gas. Finally, Mr. Stergioulis appeared optimistic about the future route of Hellenic.

See Gregory Pelecanos interview here


Watch the panel video that Mr. Gregory Pelecanos moderates here: