Two Russian proxies vie for control of strategic Greek port of Alexandroupoli

Alexandroupoli, Greece (Ports Europe) May 16, 2022 – Two of the four candidates to win the tender to operate the Greek port of Alexandroupoli have links with Russia. Thus, two Russian proxies vie for control of strategic Greek port of Alexandroupoli. They are: Cameron SA, in a consortium with Bollore Africa Logistics and Gold Air Cargo. Cameron is owned by Dimitris Ch. Copelouzos, a Greek businessman with close ties to Gazprom, the Russian gas monopolyBelterra Holdings: It owns 67% of Greece’s second largest port of Thessaloniki. Belterra is controlled by controversial Russian billionaire of Greek origin, and born in Georgia, Ivan Savvidis. He is seen as being very close to Russian President Vladimir Putin The other two bidders are: U.S. consortium of Texas-based Quintana Infrastructure & Development (ID) and Washington DC-based Proxenos InternationalA consortium International Port Investments Alexandroupolis, composed of Black Summit Financial Group-Euroports-EFA Group-GEK Terna Local sources suggest the favourites are the Cameron SA bid and that of Quintana & Proxenos International The privatisation of Alexandroupolis Port Authority S.A. (OLA S.A.) The privatisation is part of the Greek government’s regional port privatisation programme, which includes six ports and four or more marinas, is targeted in the first six months of 2022. Apart from its commercial potential, the port has taken on a new geopolitical importance in the last few years. Regional Energy Hub The largest city in Greece’s Eastern Macedonia and Thrace region, Alexandroupoli, has been developing into an energy hub. It is implementing projects for a Floating Storage Regasification Unit (FSRU) and a liquefied natural gas (LNG) terminal. The FSRU will be connected to the Greek National Natural Gas System (NNGS), the Natural Gas Interconnector Greece-Bulgaria (IGB) and the Trans Adriatic Pipeline (TAP). Through these connections, Alexandroupoli could become a key supplier to the Balkans as well as locally. This activity has gained in importance following the Russian invasion of Ukraine and the European Union's new policy of eliminating energy imports from Russia. The EU strategy to increase FRSU usage has raised the profile of the Greek port. The port, which today operates at less than 25% capacity, is key for the region’s transformation into an energy, logistics, and transportation centre. The port’s cargo terminal connection with the national Greek rail network. The Alexandroupolis Democritus Airport is situated just 5 km miles away and the new Egnatia Highway. Both provide the multimodal transport infrastructure. Ukraine This week, the Greek government is expected to ratify a landmark defence agreement with the US deepening the American military presence at four new military bases. This includes a greater presence in Alexandroupoli. According to the Greek Kathimerini newspaper, military equipment has already been sent to Ukraine via Alexandroupoli. Some of the 20 Bushmaster armoured combat vehicles that Australia will provide to Ukraine will also be processed there. U.S. military equipment is being sent through Alexandroupoli to NATO members Bulgaria, Poland, and Romania. Port of Alexandroupoli also became more important after Turkey shut down the Bosporus and Dardanelles straits to military vessels. It is allowed to do so under the 1936 "Montreux Convention Regarding the Regime of the Straits". The move was not welcomed by Russia, as it limits transit of military vessels. China Greece’s largest port of Piraeus is under Chinese control. China’s COSCO bought a 51% stake in Piraeus Port in 2016. Since the purchase, the port has expanded commercial activities substantially. There are concerns in Washington and EU capitals that China has too much influence in the Eastern Mediterranean. They will not want to see another significant Greek port, such as Alexandroupoli, come under the control of another global geopolitical rival. Washington is very keen to see a U.S. company have a role in the future of the port. In 2018, Greece’s second largest port of Thessaloniki came under the control of Russian billionaire Savvidis. There were even speculations that the Bulgarian state might invest in the Alexandroupoli port privatisation, but so far it only took over 20% of Alexandroupolis’ FSRU. With the symbolic 22,000 tonnes of cargo handled in 2021 and revenue of €200,000, the Port of Alexandroupoli is strategically located at the easternmost border of Greece in East Mediterranean and Aegean Sea and very close to the border with Turkey. The key companies interested in controlling the Port of Alexandroupoli Copelouzos Group The Copelouzos Group has long lasting close ties to Gazprom – its 30-years-old joint venture with the Russian gas monopoly Prometheus Gas imports Russian gas to Greece and to some other southeast European countries. It also owns 20% in Gastrade (special purpose vehicle) that has started building the 5.5 bcm/year floating storage and regasification unit (FSRU) in the port of Alexandroupolis to be commissioned in 2023. It will receive LNG from the United States and Qatar, and will supply gas to Greece and to Bulgaria, Romania, Serbia, and North Macedonia, but even further to Hungary, Moldova and Ukraine. Belterra Holdings Savidis (Savidi, Savvidis) has been embroiled in numerous scandals and controversial situations in recent years. The owner of the Greek PAOK football club, hotels and a former member of the Russian State Duma, according to an investigation, has transferred hundreds of thousands of euros to structures working against a change of the name of neighbouring Northern Macedonia. He also participates in the manufacture of cigarettes and sugar and is seen as one of the most powerful investors in Northern Greece. Savidis’ name appeared in publications about the coup attempt against Montenegro then-Prime Minister Milo Djukanovic in 2016. Putin, with whom he has cordial relations, awarded him in 2019 the order of “many years of conscientious work” and “achievements in labour”. Ports and railways The port of Thessaloniki is set to acquire a direct rail connection to the main Greek network as part of the Greek government’s €4 billion investment plan which also envisions the construction of a railway line on the northwest axis of Greece connecting Thessaloniki with the ports of Kavala and Alexandroupolis, continuing to Bulgarian Black Sea ports of Burgas and Varna before reaching the port of Ruse on the Danube River. A flagship project of the railway connection between Greece and Bulgaria is the rail link between the port of Alexandroupolis and the Ormenio border crossing with Bulgaria. In a meeting between the Greek and Bulgarian transport ministers, it was decided to commence works on this railway line. All these demonstrate that the future of the port of Alexandroupolis will depend primarily on geopolitical issues rather than just commercial potential. More Ports Europe news about Alexandropouli Ports Europe: Controversial Russian businessman, close to Putin, to control Thessaloniki port Copyright (C) Ports Europe. All Rights Reserved. 2022.

Two Russian proxies vie for control of strategic Greek port of Alexandroupoli

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Two Russian proxies vie for control of strategic Greek port of Alexandroupoli

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