Elefsina Port Project Highlights New Model for Infrastructure Development in GREECE

ATHENS – New geopolitical developments make it necessary to develop additional ports in Greece, and this realization lies at the center of the shared interest of the AKTOR Group and the ONEX Group in obtaining the concession for the commercial exploitation of the port of Elefsina, emphasized Alexandros Exarchou, Chairman and CEO of the AKTOR Group and CEO of Atlantic SEE LNG Trade, speaking at the Blue Strategy Summit 2026 organized by the Hellenic Shipyards Association.

As he stressed during a discussion with Panos Xenokostas, Chairman and CEO of the ONEX Group, the evolution of the Greek economy, geopolitical shifts, and new conditions require the creation and modernization of additional ports in Greece. Although Greece lies at the crossroads of three continents, it essentially has only one major international port, which will not be sufficient for the transformations and developments expected in the future international environment.

Exarchou underlined that the vertical energy and road corridor creates the need for well-organized ports capable of supplying Southeastern Europe, and noted that Elefsina is the best option because it has easy access to transport infrastructure and sufficient space for the development of a well-organized logistics center.

He also commented that the ever-increasing competition between the United States and China forces Europe to monitor developments more closely and creates further needs not only for infrastructure but also for energy interconnections, due both to the war in Ukraine and the conflict in the Middle East.

Referring to LNG, he noted that it is not only an opportunity for the Group, but mainly for Greece, as it changes the geopolitical balance in the region in Greece’s favor.

He added that the vertical corridor can ensure Europe’s adequate supply with significant quantities of American LNG, given the ban on Russian natural gas and the difficulties that are also expected in imports of Azerbaijani natural gas.

According to him, this project will be achieved through long-term contracts that will bring balance to Europe both in terms of pricing and securing the required quantities. Exarchou pointed out that the coming winter will likely be difficult for Europe because of problems securing natural gas supplies, and estimated that this will affect the European economy, which will ultimately be forced to buy gas at higher prices.

He predicted that the EU will attempt to resolve the issue centrally, following the model used for Covid vaccines, either through a new financial instrument similar to the Recovery Fund or through the issuance of Eurobonds.

Otherwise, he warned, increased energy costs will lead to inflation surging to unmanageable levels.

In addition, he continued, long-term LNG contracts can create the conditions for the development of new energy infrastructure, such as FSRUs and upgrades to gas networks, since long-term purchase commitments and predictable revenues make such projects easily financeable by the banking sector.

New Commercial Agreements Expected by Summer

Exarchou reiterated that maintaining balance among natural gas suppliers is essential both for the vertical corridor and for Europe.

He added that beyond the two long-term agreements secured by the AKTOR Group with Albania and Bosnia-Herzegovina, the Memoranda of Understanding (MoUs) signed with other organizations in Southeastern Europe are expected to become final agreements by the summer. Exarchou stressed that this development, beyond the obvious benefits for the Greek economy, gives Greece an influence over regional energy affairs that it has never had before.

A New Model for Infrastructure Development

Referring to the traditional difficulties in the infrastructure sector, Exarchou emphasized that no one expects problems accumulated over decades to be solved within a few months.

He stressed that if one compares the state of infrastructure today with that of ten years ago, the distance Greece has covered is enormous.

He commented that the concession-project model – which requires better preparation, project maturity, and high-quality studies – is the best method for creating next-generation infrastructure.

This is because traditional public works often involved projects tendered with insufficient study preparation and mistakes, as happened with the Thessaloniki Metro, causing major delays and other problems.

A shift is now underway from state-financed construction projects to strategically planned, privately financed, long-term infrastructure ecosystems tied to geopolitics, logistics, and energy security. The logic is that if the company will operate the asset for decades, it has incentive to build it properly, on time, and without massive cost overruns.

Exarchou believes that from now on, major projects in Greece will increasingly be implemented through concession models, as is expected in the case of the port of Elefsina.

FOTO: Mr. Alexandros Exarchou speaking at the Blue Strategy Summit 2026, organized by the Hellenic Shipyards Association, in his capacity as Chairman and CEO of the AKTOR Group and CEO of Atlantic SEE LNG Trade.

Source: https://www.thenationalherald.com/elefsina-port-project-highlights-new-model-for-infrastructure-development-in-greece/