The Eastern Mediterranean in the Vortex of Geopolitical & Energy Challenges: Transition, Security, and Resilience

Nisyros Dialogue – Bridging the East Med

Dear Panagiotis Mihalos [President Mihalos Fundation],

Dear Dimitris [Tsiodras MEP; co-host EPP],

Dear Nikolas [Farantouris; co-host GUE/NGL],

Dear Ambassador Vrailas [Greek Permanent Representative to the EU],

Esteemed guests,

Ladies and Gentlemen,

Thank you so much for the invitation.

I am grateful for this timely event.

Geopolitical, security, and energy challenges are indeed at the core of the European Union's external relations.

They have an impact on all shores of the Mare Nostrum and the wider region.

The European Union is increasingly facing raw power, geo-strategic rivalry, and economic insecurity.

• Old alliances are fading away,
• Dependencies in energy, trade, or supply-chains are weaponised, and
• there is a fierce competition over zones of influence.

This means we need to continue stepping up our competitiveness and resilience.

One promising avenue is strengthening our partnerships with like-minded countries.

This way, we are also re-shaping and deepening Europe's footprint in a fast-changing world.

We want to strengthen genuine cooperation creating mutual benefits.

Our goal is to boost win-win prosperity, stability, and security.

Our reinforced partnerships around the Mediterranean and beyond are a central element of this.

The Pact and T-MED

Our new tool here is the Pact for the Mediterranean.

As you know, the Pact is a partnership between equals, built on mutual trust, co-creation, and joint responsibility.

I am particularly grateful for the commitment and expertise of the governments of Greece and Cyprus – through a strong focus on the MENA and Gulf regions during the Cypriot Presidency.

Around the Mediterranean, we share the aim of enhancing stability, security, and prosperity through

• sustainable economic development through investments,
• quality jobs through education, exchange, and skills development,
• and a reinforced cooperation on security and migration management.

A central element of our economic cooperation is the acceleration of investments in renewable energy and clean technologies.

There is an enormous potential for solar and wind in the region, if we create win-win opportunities.

This is why we have – together with our partners in the Southern Mediterranean – developed T-MED [the Trans-Mediterranean Renewable Energy and Clean Tech Cooperation Initiative].

T-MED will boost investments in renewables around the Mediterranean.

At its core is the Investment Platform.

We are bringing together project designers and investors with international and European financial institutions and national development banks.

This single coordination mechanism will strengthen a region-wide strategic pipeline of flagship projects in renewable energy generation, grids, and clean-tech manufacturing.

With T-MED, we are also creating an enabling business and human-talent environment through:

• regulatory reforms and convergence,
• training and skills development,
• infrastructure studies for grid inter-connections, and
• cooperation on clean-tech manufacturing.

Regional integration & Infrastructure

One strategic aim of T-MED is regional market integration. Apart from regulatory convergence, it will consist of tangible cross-border infrastructure.

This includes electricity interconnectors and corridors for green hydrogen.

Let me mention GREGY here, the electricity interconnection project between Greece and Egypt.

It is an important pillar of the EU-MENA energy cooperation with the ambition to have it up and running by 2030.

Likewise, the Great Sea Interconnector – linking Greece, Cyprus, and Israel – is a project of strategic relevance.

And we should not forget that any such project is always a strong contribution to confidence-building in the region.

Through T-MED we will be able to integrate renewables in our energy system in a reliable manner.

And it is a great opportunity to supply the region and Europe with very competitive renewable energy.

Ultimately, T-MED also greatly strengthens our collective energy security.

Gulf countries, IMEC

Our efforts and work span beyond the Mediterranean.

Promoting triangular cooperation with our Gulf partners, including in the field of energy, is a key objective in the Pact.

The countries of the Gulf Cooperation Council – with their strong geopolitical and investment clout, and their energy footprint – are a strong asset for prosperity and stability in the MENA region.

I see a great potential for deepening our cooperation.

It will scale up the benefits for all partners – EU, Southern Neighbourhood, and Gulf countries alike.

Likewise, our proposed Strategic Partnership Agreements with the GCC countries have substantive energy chapters.

My last visit to the Gulf has confirmed their strong engagement in diversifying their economies and accelerating strategic investments in renewables.

I am also looking forward to the EU-GCC Energy Ministerial meeting in May in Nicosia.

In addition, the Commission fully supports IMEC – the India Middle East Europe Economic Corridor.

It is a great opportunity of linking the European Union to North Africa, the Middle East, the Gulf, and to India.

IMEC is not about one single track, but a dense network of interconnected initiatives on connectivity and trade.

Further, IMEC also has a strong potential to promote our mutual security in a comprehensive way.

I am glad that the preparatory work on IMEC is advancing. And I am hopeful we will be able to hold a ministerial meeting soon in 2026.

Ladies and Gentlemen,

Our collaboration on energy under the Pact for the Mediterranean is progressing well.

I am glad to announce that the Commission intends to present T-MED to a wide range of energy sector stakeholders soon [in June during the EU Sustainable Energy Week in Brussels].

This will include a Call for Expressions of Interest targeting both project promoters and investors. Our aim is to identify bankable renewable energy, infrastructure, and clean-tech projects.

After all, whatever we do on energy cooperation in the Mediterranean and beyond, we have a plan.

We want to deliver:

• secure and affordable energy,
• accelerated regional decarbonisation,
• private investment at a large scale, and
• long-term opportunities on both shores of the Mediterranean and beyond.

Our strength is the Team Europe approach - Commission, Member States, and the European Parliament.

Thank you for your engagement and participation in this.