Greece and the USA open an electric highway in the Western Balkans – MoU signed

The governments of Greece and the USA have taken a step towards strengthening energy cooperation and security, by signing a Memorandum of Understanding, which sets the framework for joint actions on energy issues in the Western Balkans.

The Memorandum of Understanding aims to promote the Greece-US Strategic Dialogue and is part of the cooperation between the Greek Ministry of Foreign Affairs and USAID.

On the Greek side, the Memorandum was signed by the Secretary General of International Economic Relations and External Affairs of the Ministry of Foreign Affairs, Myra Myrogianni, and the Secretary General of Energy and Mineral Raw Materials of the Ministry of Environment and Energy, Aristotelis Aivaliotis. On the US side, Ambassador Erin Elizabeth McKee signed on behalf of the Office for Europe and Eurasia of the US Agency for International Development (USAID).

The role of Greece in the Western Balkans

At the start of the ceremony, Ms. Myrogianni underlined the importance of energy cooperation as a key factor in promoting regional integration and security in the Western Balkans region, where Greece plays an important role, as this was also discussed during the 4th Strategic Greece-US Dialogue in February 2023. With this Memorandum, the Secretary General stressed, it will facilitate the creation of a more efficient, sustainable and interconnected electricity market between Greece and its neighbors, thus enhancing cross-border transactions, price convergence and network stability.

For his part, the General Secretary of Energy and Mineral Raw Materials of the Ministry of Environment and Energy, Aristotelis Aivaliotis, referred to Greece’s commitment to the European perspective of the Western Balkans, with the Thessaloniki Conference in 2003 as a milestone. The Memorandum will contribute to the coupling of electricity markets contributing to economic growth and stability in the region, the Secretary General said.

The American side emphasized that this Memorandum will strengthen the cooperation between the energy operators of Greece and the Western Balkans, with the aim of promoting the integration of electricity markets and energy security in the region.