Hellenic Petroleum: Meeting of the administration with the Minister of Environment and Energy

The Minister of Environment and Energy Costas Skrekas met today with the Chairman of the Board of Directors of the Hellenic Petroleum Group, Giannis Papathanassiou, the Managing Director, Andreas Siamisis and the General Manager of Strategic Planning and New Activities, George Alexopoulos, in the presence of the Secretary General of Energy and Mineral Raw Materials, Alexandra Sdoukou.

The meeting discussed in detail the issue of the strategic transformation of ELPE into an integrated Group for the production and marketing of all modern forms of energy and the development of new business activities, with emphasis on Renewable Energy Sources.

The subject of the meeting was the planning for the effects of the energy transition in relation to the oil market on the occasion of the strategic development plan of ELPE.

Planning

The heads of the management of ELPE presented the main axes of the transformation of the Group to the Minister of Environment and Energy, which provide:

Redefining the ESG (Environmental, Social, Corporate Governance) strategy. The ESG investment philosophy will be adopted, proving in practice the commitment to the environment, society, corporate governance and sustainability in general. The targets for reducing emissions are immediately adjusted, contributing significantly to the reduction of greenhouse gases.

– Adjustment of business strategy and capital allocation, with investments in innovation and production of environmentally friendly products.

– Establishment of a modern and appropriate corporate structure, which will increase the efficiency of the company.

– Upgrading corporate governance to the highest level, in order for the Group to be at the top of investment options, but also to ensure the management with rules of transparency to the markets, shareholders, employees and society.

The modernization of the corporate governance framework and its harmonization with the provisions of law 4706/2020 for listed public limited companies was also discussed, which was voted for by all parties in Parliament except the communist party KKE.

Costas Skrekas stated in this regard: “I have the pleasure today to welcome the management of the ELPE Group to discuss in detail the strategic development plan of the Group, which is fully in line with the national goals of the country for the gradual decontamination of pollutants and reducing greenhouse gas emissions and developing new activities with a low environmental footprint. Investments in innovative technologies and Renewable Energy Sources enable Hellenic Petroleum to play a leading role in the energy map of modern Europe. For the first time we have a comprehensive plan that will ensure the prosperity and growth of the largest energy company in Southeast Europe. Our main goal is to secure existing jobs and create new and highly paid ones. Faced with the great challenge of climate change, ELPE Group, with the full support and cooperation of key shareholders, will develop as an integrated energy group by investing in technologies and products that will create strong added value for Greek society and economy, while ensuring the interests of the State “.

The Chairman of the Board of Hellenic Petroleum SA, Giannis Papathanassiou, stated: “We informed the Minister about the new era we are planning for ELPE in order, following international developments, to remain not only the largest energy group in Southeastern Europe but also to improve the footprint that will have an impact on the environment, and which will have an impact on the company’s image in international markets. We are sure that with the cooperation of all ELPE executives and employees, this effort will be a great success and will give a new breath to ELPE “.

The CEO of ELPE, Andreas Siamisis, said: “It is a great pleasure to be here today to inform the Minister and the Secretary General of the Ministry about our strategy and plans for the future. Hellenic Petroleum is one of the most important business units not only in Greece, but also in the wider region of Southeastern Europe. It is a Group of companies that has a very important and successful course overt the last25 years. But, in order to move forward in the future we must plan taking into account what is going to happen and not what we have already experienced. In this context, we have designed a comprehensive development plan of the Group, so that it has the same business position and importance in the next 30 years, and is included in the broader national plan for the transition to the era of new energy and to help achieve national goals. which have been raised concerning environmental issues, while strengthening the developmental course of the Greek economy “.