"The green transition is a one-way street, and it is going to happen. What we need," said Andreas Shiamishis, CEO of Helleniq Energy, at the 9th Delphi Economic Forum, held in Delphi on 10-13 April under the auspices of the President of the Hellenic Republic, Katerina Sakellaropoulou, "is a realistic plan that takes into account costs, security of supply, environmental impact, and a realistic view of developments.
Mr. Shiamishis stressed that "we are not going to flip a switch to renewables" and that recent cancellations of renewable energy projects show that the system is not technically ready for reliance on renewables alone. In this context, he said that the Helleniq Energy Group is adapting its strategy to be part of the solution for the next 20-30 years. "This is an ongoing situation, not a static one. We are under intense pressure from climate change and other international factors, but a one-dimensional approach has been taken to move away from fossil fuels to renewables.
Nobody disagrees that that is the right thing to do, but there is oil and gas in between," he added. "We are about 12 to 18 months away from a possible decision on exploratory drilling in our projects," he said. He stressed that the company has completed seismic surveys for hydrocarbons in southern Crete and the Ionian Sea and is analysing the data. If there is a decision in favour of an exploration well, the exploitation decision will still be several months away. Mr Shiamishis referred to new projects worth up to 4 billion euros that the group will be undertaking over the next few years to make use of new green technologies.
He said that within the next decade, the construction of a major hub in Thessaloniki will link 600 megawatts of photovoltaic projects with the group's refinery and then with batteries for the production of green hydrogen. At the same time, the group is working on the capture and storage of carbon dioxide to produce "blue" hydrogen.
The aim is to produce synthetic fuels with a very small footprint. In this context, he also underlined the importance of the 11% placement on the Athens stock exchange, which was a solemn demonstration of the Group's access to the markets and the accessibility and availability of its shares.
He went on to say that steps such as these, which facilitate access to a broad capital base, pave the way for the financing of major new projects to be secured. Finally, the head of Helleniq Energy referred to the Group's own green transition and stressed that it will continue in the coming years. He reminded the audience that the company exports 60% of its production, has a major growth plan in renewable energies in Greece and abroad, and aims to develop new technologies such as hydrogen, biofuels and synthetic fuels.
