IENE’s «South East Europe Energy Outlook» Study Presented in Special Evening Event on May 18

Posted: Friday, May 20, 2011

IENE’ major reference study, «The South East Europe Energy Outlook» was first presented last Wednesday, May 18^th, at the Vorres Museum, in Paiania, Attiki. The presentation focused on key areas of the study including the investment prospects of the energy sector in the SE European region. Senior business executives, energy experts, representatives of foreign embassies, as well as IENE members and associates and contributors to the «South East Europe Energy Outlook» study were present in this special IENE event.

The event began with introductory and welcome remarks by IENE’s Chairman, Dr. Ioannis Desypris, and was followed by Ambassador A.H. Mr. Lefteris Karagiannis, who contributed with a speech on the political situation and background of the countries of SE Europe. IENE’s Deputy Chairman and Executive Director, Mr. Costis Stambolis, who co-ordinated the project and edited the study, presented the outline of this latest publication of the Institute. Two of the major contributors to the study, Mr. Alexandros Vrachnos, Member of IENE’s Executive Committee, and Dr. Theodoros Tsakiris, Research Programmes Co-ordinator of IENE, were also speakers at the presentation.

According to the «Outlook» study, the value of energy investments in the region by 2020 is foreseen to exceed 230 billion euros. More specifically, 90 billion euros will be invested in electricity (i.e. new power generation units, electricity grids, coal and lignite mines, RES), as SE Europe will need an additional 130-140 GW of installed capacity. Additionally, the investments in RES (including energy efficiency) are foreseen to add up to 55 billion euros.

The main conclusion of the study is that the prospects for energy investments in the whole SE region are overwhelmingly positive for the coming decade, especially as far as the major countries are concerned (i.e. Greece, Turkey, Bulgaria, Romania and Turkey).

Apart from electricity, there are significant opportunities in all other energy branches in the SE European countries:

undefined undefined - In natural gas investments in new pipelines, LNG and liquefaction terminals are predicted to reach 21 billion euros. These investments are to take place mainly in Cyprus, after the recent discovery of large natural gas offshore quantities and in Western Balkans and Croatia and Bulgaria, where old infrastructure is being replaced and upgraded.

undefined undefined - The pipeline projects for the transmission of natural gas from Central Asia and the Caspian to Europe are of major geopolitical importance for the region. The respective investments are estimated to reach 20 billion euros.

undefined undefined - The investments in hydrocarbon exploration are predicted to amount up to 35 billion euros until 2020 and several projects are already underway in Turkey, Romania, Bulgaria, Croatia, Cyprus and Greece.

undefined undefined - Investments in refining are expected to come up to 21 billion euros until 2020.

Before the start of the presentation, the guests had the chance to take a guided tour in the Vorres Museum. After the presentation, a cocktail reception was held in the Museum’s gardens.

The sponsor of this IENE event was Terna Energy SA, while the «Outlook» Study

sponsors and supporters included PPC SA , Sencap A.E., EGL Hellas, PGC SA (DEPA), Hellenic Gas Transmission Operator SA (DESFA), Terna Energy SA and Protergia SA.

The « Outlook » study publication will be available early in June and can be ordered from the Institute’s offices and via IENE’s website. A separate announcement and special publication banner will be posted in due time on IENE’s website.