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Prime Minister Mitsotakis: Greece is "definitely" interested in purchasing Canadian liquefied natural gas

Prime Minister Mitsotakis: Greece is "definitely" interested in purchasing Canadian liquefied natural gas

By Mounira Magdy

Published: March 24, 2024

Greek Prime Minister Kyriakos Mitsotakis confirmed that Greece is of course interested in purchasing liquefied natural gas in Canada, if the resource can be made available to the country overlooking the Mediterranean Red Sea.

Mitsotakis sat down with CTV host Wasi Kapelos in Montreal for an exclusive interview today, Sunday, during the prime minister's visit to Canada over the weekend.

Canada has eight liquefied natural gas projects "at various stages of development," according to Natural Resources Canada, and the first export facility is scheduled to begin operations next year with shipments directed to some Asian countries.

But whether Canada can plan to export to European countries in the future has been a topic of ongoing political discussion for years.

The issue has also taken on a new urgent direction since Russia's invasion of Ukraine and the efforts of many Western countries to phase out the purchase of Russian oil.

Mitsotakis said: "We are at a major entry point for liquefied natural gas, not only for the Greek market but also for the Balkans, for Eastern Europe." "In theory, we can even supply Ukraine."

He continued, "So in principle, yes, we are very interested in obtaining liquefied natural gas at competitive prices." "As fast as we proceed with our renewable breakthrough, we will still need a reliable power source, and for us, for Greece, we do not have nuclear, we are practically, or entirely, away from coal, so natural gas remains the expected future important energy source for electricity generation."

When asked if Canada could be an ideal partner in that, Mitsotakis said, "Definitely."

He added, "Canada is a country with which we share many values," pointing to his country's alignment with Canada on many geopolitical issues, including Ukraine and Gaza.

In August 2022, Prime Minister Justin Trudeau said the idea that liquefied natural gas exports would be part of Canada’s long-term plan to become a reliable supplier of clean energy to Europe had not yet been ratified.

Speaking alongside German Chancellor Olaf Scholz at a press conference at the time, Trudeau appeared to question the "business case" for pursuing liquefied natural gas developments.

Trudeau said, "We are in a short-term position where we will do what we can to contribute to global energy supply by increasing our capacities... and exploring ways to see if it makes sense to export liquefied natural gas directly to Europe, if there is a viable business."

"But in the medium and long term, Canada can position itself to be a major energy supplier in a net-zero economy. That means investments in hydrogen, that means more investments in critical minerals... that means investments in a range of solutions."

Mitsotakis is the first Greek prime minister to visit Canada in over 40 years, bringing a message that his country is open for business. Economists predict steady economic growth and cooling inflation in the coming years, after nearly a decade of deep economic crisis.

He said, "Greece has been making a rather remarkable economic comeback, we have left the crisis behind." "And I feel this is also the right time to make the case to the Canadian business community that they should take a good look at Greece and consider deploying capital there."

Mitsotakis also discussed defense spending in his interview—the need for Canada to reach the NATO target of spending two percent of GDP on defense—as well as the ongoing war in Ukraine.

He said, "I understand there is always a temptation not to spend money on defense, to spend it on other priorities, but in our case, we have never had that luxury." "We have always spent more than two percent on defense."

He added, "But to the extent that this is a collective NATO alliance goal, I think it is important that all countries reach this goal."

The Greek prime minister also spoke about the trade agreement between Canada and the European Union, known as CETA, and the delay in ratifying it, a topic he said he will certainly discuss with Trudeau this weekend.

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