Greece's Development Minister Christos Folias signed a power swap deal with his Turkish counterpart Tayyip Erdogan in Istanbul on Wednesday, in a bid to solve the anticipated rise in power consumption in the country, according to Greek national TV channel
Addressing the 5th International Energy Forum, which was held in Istanbul, Christos Folias stressed that regional energy cooperation and development is a matter of pivotal strategic importance to both Greece and Turkey, and to all the nations of the modern world.
He said: "It is our conviction that the nations making up the geopolitical triangle, Eastern Mediterranean, the Black Sea and the Caspian Sea, will enjoy a constantly mounting role in the world balance of energy market in the near future. Their energy dynamic allows them to further expand their volume of supplies notonly to the European but also the world energy market. At the sametime, being strategically positioned between East and West, they become the focus of investments in infrastructure."
The minister pointed out it is a major challenge to have oil and natural gas transferred to the consumer nations safely and sufficiently. Folias urged the countries at the threshold of major international energy routes to be active pioneers, active players in the hearth of the development.
"We aim to offer Greece energy sufficiency and at the same time, being an energy hub, we wish to have a positive contribution to meeting the needs of energy intensive European economies," said the minister.
Source:Xinhua
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