[Athens, 28 January 2026] Athens has a way of challenging assumptions. For those of us who have followed Greece’s energy infrastructure investment cycles closely, the country often appears cautious, even slow-moving. Yet history shows a different pattern: when political, industrial and financial conditions align, Greece can move at a speed that few European markets can match.
Carbon capture, utilisation and storage (CCUS) is a case in point.
When I left Greece in 2022, after several years working closely with its gas and energy infrastructure landscape, I believed CCUS was simply premature. The ingredients were incomplete, the ecosystem fragmented, and the risks too high. That assessment no longer stands. Over the past two years, the stars have begun to align, and Greece now finds itself at a pivotal moment. This perspective feels particularly timely as I return to Athens to speak at the 15th Athens Energy Summit, where CCUS is now firmly on the agenda.
Greece has made decisive progress on CCUS by actively building a value chain fully aligned with the EU Industrial Carbon Management Strategy and NZIA targets. This positions Greece as an emerging CCS hub in the Eastern Mediterranean. At the same time, Greece’s domestic geological storage capacity is limited, a challenge shared by several Mediterranean countries. This makes access to suitable geological formations and cross-border solutions not optional, but essential.
European funding instruments, notably the Innovation Fund and the Connecting Europe Facility, are increasingly available to support CO₂ transport infrastructure. The country’s competitive shipping sector offers a natural advantage for developing flexible, scalable CO₂ logistics. Strong industrial and energy ties with Mediterranean countries like Italy or Egypt provide a practical framework to explore and mature cross-border CCS solutions and open the door to regional solutions.
A Mediterranean CO₂ corridor, leveraging shipping routes and proximity between emitters and storage sites, can accelerate deployment while keeping costs manageable and investment risks lower.
Taken together, these factors suggest that the question is no longer whether CCUS can work in Greece, but how quickly it can move from concept to implementation.
A common misconception persists: that finance is the only barrier. In reality, it is rarely the most decisive constraint. Framing CCUS delays primarily as a financing problem often obscures the real challenge: risks mitigation and allocation. Risks ownership and mitigations must be addressed. Capture, transport and storage involve different actors, timelines and regulatory exposures. Solely focusing on auctions or subsidies without resolving permitting uncertainty, liability allocation, cross-border responsibilities or regulatory exposure will only postpone decisions.
Lessons from other European markets are instructive. Denmark’s emphasis on state funding without developing a cohesive market framework impacted the auctions scheme. On the other hand, a pragmatic approach shown by the Netherlands, characterised by maintaining significant government involvement in developing and co-investing in foundational infrastructure led to an acceleration of deployment without crowding out private initiative. CCUS value chains are inherently bespoke; they must reflect local circumstances Strong national government engagement is therefore essential to support domestic decarbonisation efforts.
The European Commission has a critical role to play in empowering Member States to implement pragmatic solutions, particularly in the early phases of market development. Greece shows that policy, permitting and governance can move fast, but scaling CCS to climate-relevant volumes will also depend on EU-level coordination, open-access infrastructure and investment frameworks that support cross-border flows.
CCUS now offers Greece not only a decarbonisation tool, but a strategic opportunity to shape regional solutions. When the will is there, progress follows, and Greece is once again demonstrating what becomes possible when the stars align.
Notes to Editor
Interview requests: To interview Thierry Grauwels, EU Director, CCSA, please contact francesco.dapolito@ccsassociation.org
About the CCSA
CCUS, or Carbon Capture, Utilisation and Storage, is a key low carbon solution – vital to meeting the EU’s climate targets. CCUS enables industrial decarbonisation as well as the production of clean power, clean products (such as cement and chemicals) and clean hydrogen – which can also be used to decarbonise industry. In addition, CCUS also enables greenhouse gas removal from the atmosphere through Direct Air Capture with Storage (DACS) or Bioenergy with CCS (BECCS).
The CCSA is the trade association accelerating the commercial deployment of CCUS, with offices in Belgium and in the UK. We work with members, governments and other organisations to ensure CCUS is developed and deployed at the pace and scale necessary to meet net zero goals and deliver sustainable growth across regions and nations.
The CCSA currently has over 120 member companies who are active in exploring and developing different applications of carbon capture and removals, CO2 transportation by pipeline and ship, utilisation, geological storage, and other permanent storage solutions, end-users in the power, industry, waste management, fuels, and hydrogen production sectors, plus supply chain, engineering, construction and management, legal and financial consulting sectors.