Subsidies, which will be incorporated into power bills, are expected to absorb up to 94% of the rise in monthly power bills for households and 89% of the rise for small and medium-sized firms.

The Ministry of Energy and Environment plans to double lignite production and to review its phase-out plan for lignite-fired power plants.

Greece, aiming for renewables to account for 61% of final electricity consumption by 2030 from 29% last year, wants to shorten its permitting process to about two to three years.

Gastrade is developing the LNG FSRU offshore Alexandroupolis in Greece, which will be a new, independent energy gateway for the markets of Southeastern and Central Europe.

In April 2020, EuroAfrica Interconnector initiated a €650m tender for the EPC of a 1 GW subsea HVDC line between Egypt, Cyprus, and Greece (Crete and Attica).

The four projects call for a combined investment of EUR 2.02 billion (USD 2.47bn),

The importance of the East Mediterranean's gas importance came to the fore in 2015 with ENI's discovery of the 30 Tcf supergiant Zohr field, helping bring the North African country back to self-sufficiency in gas in 2018.

Currently Greece imports gas from Gazprom at a price of between $4.6 and 4.7 /mn Btu, Kitsakos said; from Turkey's Botas at $5.9/mn Btu; and from Algeria's Sonatrach at $6.5/mn Btu. Gas at the Dutch TTF is around $6/mn Btu. However, the price Cheniere will ask for gas is rumoured to be around $7/mn Btu.

The 180-km (110-mile) pipeline will be built by a Bulgarian-Greek joint venture that also includes Italian energy group Edison SpA.

After the cancellation of the South Stream natural gas pipeline last December due to the EU’s blockage of the project, Russia announced an alternative project called the Turkish Stream which will hit the shore on the European side of Turkey near Kıyıköy.