Mytilineos nears green energy deal in N. America

Mytilineos is close to reaching an agreement on green energy in North America, Evangelos Mytilineos, chairman and CEO of Mytilineos Energy & Metals, told Bloomberg TV on Tuesday.

In an interview, Mytilineos said that the framework in North America is very attractive and noted that in Europe the system is more bureaucratic and things move more slowly.

“That’s why I believe that although Europe was at the forefront of energy transition, North America will catch up and move faster,” he said.

“Europeans are not putting money on the table, that’s why many companies in the green transition era are generally looking North American markets. Europeans encourage you to do things or push you away if you don’t. North Americans, not only in the US, in reality push you forward, offering subsidies, and therefore I believe that they will move faster than Europe in the future.”

Mytilineos said that the US and North America have very cheap energy, possible 20-30% of the cost of European energy.

“Europe has very high fines for CO2 and therefore a large disadvantage in energy,” he said.

He noted that Europe must cut its dependence from one source and open up the European scene to new suppliers, such as the US, Qatar, Norway and others.

It will take years to get there and things could get ugly sometimes, Mytilineos stressed.