Geoffrey R. Pyatt, U.S. Ambassador to the Hellenic Republic (Photo Credit: U.S. Department of State)

US ambassador to Greece Geoffrey Pyatt on Thursday expressed his certainty that Greece is entering a new phase during which the country can build on reforms already implemented and others currently underway.

Addressing a congress on investment opportunities and challenges in the energy sector, he stated that this summer could become a turning point for the Greek economy, after the conclusion of the review, in attracting investments mostly in the energy sector. “It is the government’s matter to take advantage of the timing and to make the changes that will prove that Greece is a good place for investments,” said the ambassador.

He urged that pending privatisations must proceed and announced that next June he will attend, along with Greek Economy Minister Dimitris Papadimitriou, a conference in New York where he will reiterate his confidence in the prospects of the Greek economy.

Referring to energy developments in the region, he reiterated the stable US strategy to support the strenghtening of Europe’s energy safety. He expressed his support on the promotion of the TAP pipelines, the liquified natural gas plants in Revythoussa and Alexandroupolis and the pipeline that will link the natural gas systems from Greece to Ukraine. Howerver, he noted that these infrastructures should not transfer Russian natural gas but will change the equation and will not allow Russia to use the energy as a weapon. He clarified that US is against the North Stream 2 and the ITGI pipelines that do not support the Greek and the European interests.

Pyatt said that there are huge prospects for investments in the energy sector in Greece (TAP is only the tip of the iceberg) as Greece has the advantage of its geographic position that links Asia and the eastern Mediterrenean with the Balkans and Europe.

Finally, he expressed his support to the US-owned company which has bid to buy National Insurance stating that if it was selected it would bring millions of US dollars in investments and open new job positions.

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