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Energy Security Forum Comments, Athens

Deputy Environment Minister Asimakis Papageorgiou addressed the urgency of defending energy security, regarding the current Ukrainian crisis, today at the Athenian "Europe and the Arab World: Strengthening Political, Business and Investment Ties" conference.

The conference is orchestrated by the Economist magazine, under the auspices of the League of Arab States and the Greek Presidency.

In Papageorgiou's speech he discussed how the recent unraveling of Ukraine transcends the regional role of Greece, as a bridge to energy outlets. The Environment Minister stated, "The restructuring and deregulation of the energy sector creates large prospects of forming strategic energy alliances". He highlighted liquefied natural gas and renewable energy sources cooperation between nations.

Libya's Alternate Oil and Gas Minister Omar Ali Elshakmak, discussed how his nation has not advanced from oil industry growth, and that their standard of living has greatly declined. During the Economist conference, the Minister commented on Libyan legislative alterations, regarding its investment, environment, taxation, international regulations and oil sector.

The Secretary General of the Organization of Arab Petroleum Exporting Countries (OAPEC) Abbas Ali Al-Naqi, confirmed that the leading source of energy will be hydrocarbons, prior to 2030. However, their share is predicted to decline from 32% to 26%.