 Good afternoon everyone welcome to the Center for Strategic and International Studies. My name is Heather Conley I have the great privilege of directing the Europe program. Thank you very much Heather for your kind and warm introduction and EU and NATO member Greece is working to generate synergies among different countries in the Eastern Mediterranean and promote peace security and regional cooperation In this context bilateral relations with Israel have been strategically intensified to function as a factor of original stability Moreover, I am traveling to Israel shortly to sign a Trilateral agreement on the environment with my counterparts from Israel and Cyprus What's more we are developing trilateral cooperation on energy routes for the gas fields in the exclusive economic zones of Cyprus and Israel Regarding recent Turkish illegal and aggressive attitude Contesting the Republic of Cyprus lawful right to exploit its national resources The European Council could not have been clearer when on the 24th of October and I quote here We express serious concern about the renewed tensions in the Eastern Mediterranean and urged Turkey to show restraint and respect Cyprus sovereignty over each territorial sea and Cyprus Sovereign rights in its exclusive economic zone The European Council record the declaration of the European community and its member states of 21st of September 2005 Including that the recognition of all member states is a necessary component of the accession process under the current Constances the European Council considered it more important than ever to ensure a positive climate so that negotiations for a comprehensive Cyprus settlement can resume Greece also took note of repeated US Statements calling for the need to respect the Republic of Cyprus sovereign rights in each exclusive economic zone Further to the above mentioned cooperation We are promoting the euro as a interconnector a Submarine cable to link the Israeli Cypriot and Greek power grids a Historic project endorsed by the European Union Let me share with you a further recent geopolitical development which offers rich opportunities The tri-lateral cooperation between Greece Cyprus and Egypt Following much preparation. We look forward to the first tri-lateral summit summit of hands of states and government level next week in Cairo our hope is our initiatives Which are in no way directed against any third party to create regional beacon of light and serve as a model for regional dialogue This is what we are striving to achieve and energy is a vital element of this process Let me just a couple of words on the Greek economy After six years of recession the Greek economy returned to growth in the third semester of 2014 and is expected to have positive growth on an annual basis We have managed to achieve way ahead and above expectations a primary fiscal surplus in other words We learn to live with what we earn In short during the past three years we achieved the largest fiscal adjustment and at the shortest period of time If we did this despite an adverse environment of doomsday scenarios that usually work as Self-fulfilling prophecies Today we are in a position where we can change the policy emphasis from austerity to development Our goal is to make Greece a friendly and attractive country for foreign direct investment The energy sector can be crucial attracting investments and creating jobs Lights and gentlemen Europe's energy security problems can be summed up in two words excessive dependence To understand the Europe situation, which is so different from from America's let's remember a few facts With 53 percent of the energy consumed coming from abroad from third countries The EU is the world's largest importer of energy this dependency is 80 percent for crude oil 66 percent for natural gas and 40 percent for nuclear fuel Some states in the less integrated Baltic and East European regions are especially vulnerable six of them depend exclusively on Russia Greece's portfolio on the other hand is diversified with 67 percent of imports coming from Russia 17 percent from Azerbaijan on a basis of a Turkish contract and 16 percent coming from Algeria. It's LNG Guess in fact, we are the first EU state to import as air gas I stress however That import dependence challenges the entire Europe not just the most affected states Why? Because dependency on gas imports is rising for the European Union as a whole By 10 percent since the mid 90s and will continue rising more over This dependence comes at a high cost going beyond securing supplies first It is a financial burden the European Union's external energy bill represents more than 1 billion euros per day and More than a fifth of total European imports and it is too much second it undermines competitiveness growing energy demand in emerging economies increasingly diverse supplies away from Europe puts pressure on prices and poses a serious threat to industrial competitiveness third it restricts EU's role as a force in foreign affairs These aspects plus declining domestic production highlight Europe's vulnerability If anybody had any doubts the Ukrainian crisis again awakened our fears of supply disruptions Clearly business as usual is no longer viable. It seems we are lucky last week an 11th hour deal reached in the meeting between Ukraine Russia and the European Union Is this concerns that Europe would face an energy crisis this winter in the meantime Europe fear in a repeat of the 2009 disruptions or Wars had planned shorter measures to survive the winter But Europe cannot count on last-minute deals Its problems are not short-term and nor are they caused by Ukraine Of course, it's Ukrainian Russian crisis in 2006 2009 2014 acts as a wake-up call for Europeans to Reconsider their energy strategy Gradually maybe too gradually a common energy security strategy has evolved to reduce external dependence For Greece and for the European Union this strategy concerns for major challenges namely one to diversify sources and roots Second to develop an integrated internal market Third to save energy and transit to a lower carbon society and fourth to increase domestic production These four components are vital a Safe secure Sustainable and affordable energy supply is the key to Europe's economic and strategic Interest we are in a transition, but a lot has already been achieved first Regarding the facilitation the EU's hopes Have mostly focused on Caspian resources in this respect the 30 years to consortium's final investment decision in 2013 was historic a Milestone in the EU's 20 years effort to develop the southern corridor TAP tap and connect Caspian gas to Europe's markets The 10 billion cubic meters the 10 BCM Destined for Europe via the Trans Anatolian Trans-Andreatic pipeline and the future increase from 10 to 20 BCM in the long term send the right message Strategically the opening of the southern gas corridor is more important than any numbers TAP which extends from near the Turkish Greek border to Italy has three basic characteristics one Creates a new route for Europe in addition to North Sea North Africa and the Russia roots to Enables the entry of a major new supplier the Azeri so car and three Interconnects Southeast Europe with central Europe's major greets and hubs Greece's role in Europe's diversification strategies crucial It is the European Union's gateway to the southern corridor to the Caucasus and to the Middle East and the large Spire of TAP runs through the country We have supported this project at every step and are committed to each completion In September I approved the environmental impact impact assessment for the Greek section Completing a vital step towards the project's realization When it begins operating in late 2019 I can tell you that Europe's energy security will be decidedly enhanced Europe's goal is to further expand the southern corridor We have a significant opportunity Right on our doorstep in the eastern Mediterranean including in the exclusive economic zone of Cyprus and Israel According to the United States Geological Survey in East Mediterranean there may be up to 3500 billion cubic meters of recoverable offshore gas while 1.7 billion barrels of oil are estimated With such resources this region can become a plank of energy security for Europe Again Greece's role is prominent a Bridge linking the region to the EU's markets in this context We are promoting the so-called East Mediterranean pipeline Stretching from the offshore fields to continental Europe via Cyprus and Greece Visibility studies show that the project is economically and technically feasible and I want to make it clear Similar to the Metgas pipeline between Algeria and Spain Above all this project creates a completely new route for Europe in addition to the Caspian route via Turkey This in my opinion is it's priceless added value for Europe's energy security Let's remember that the Diversification is about new and safe supply routes not just for new sources Assessing LNG is also a priority and essential during a crisis in 2009 Greece was protected because we are lucky to have Revithusa Revithusa is an island Near Athens the only LNG terminal in EU's Balkan area Besides Revithusa enabled us to supply Bulgaria with critical supplies during the worst moments of 2009 Recognizing its strategic importance the EU is supporting financially the current upgrading of this invaluable terminal We strongly believe Greece as an enterprise For LNG is by far the most effective option for augmenting energy security in Southeast Europe well before 2020 Our state-of-the-art Revithusa LNG terminal has an excellent record of reliability safety and also affordability Revithusa has an excess Re-classification capacity of four plus BCM per year Billion cubic meters per year similar with the excess capacity of the proposed Interconnector between Greece and Bulgaria the so-called IGB Interconnector if we exclude The one BCM per year that Bulgaria is expected to receive from top according to a newly signed agreement The existence of such an excess capacity Simply means that LNG arriving at Revithusa feed the IGB and Through it our northern neighbors with extra gas in 2016 Excess capacity in the existing Greek LNG terminal is estimated to be six BCM per year due to the 160 million euro upgrade program, which is underway Unlike other planned Alternatives in other regions of Europe of southern Europe Revithusa already has an operational record of more than 400 ships and It is currently undergoing a vast upgrade hence the Greek LNG terminal coupled with IGB and At least one FSU floating storage and Re-classification unit in northern Greece Can fill the gap with a minimum of capital expenditure Compared to any other project to any other alternative Europe faces acute competition from Asia, but is looking to increase LNG suppliers Who knows maybe in the future we can import American sale The conclusion of the transatlantic trade and investment partnership could promote this Turning now to challenge number two to develop and Integrated internal market. Let me tell you this If during the 2009 gas crisis the internal market the internal European market Had been completed with the necessary infrastructure and I'm talking especially for interconnections Among the various national grids so if There were such interconnections to transport gas where needed Nobody would have stayed in the cold Where markets work and are well connected little space remains to use energy as a political tool The crisis in Ukraine confirms the importance of an integrated market Who is most at risk? The countries whose energy system are isolated physically technically and from a regulatory perspective Overcoming this is largely what the internal Market the internal market is about The key to this is to build the necessary interconnections among the national grids and to implement rules guaranteeing non-discriminatory access to independent the operated Infrastructure and of course to promote hub pricing and enable the market to deliver Reliable price signals for efficient production and investment decisions With breakthrough legislation known as the third energy packets The EU has progressed towards an integrated and transparent market But we need more reverse flow interconnections to ensure that once diversified sources enter Europe then They can be delivered anywhere. This is the key to success To promote this pan-european vision. We identified strategic projects with the European project of common interest label known as PCIs projects of common interest the fact that 12 PCIs relate to Greece Reveals its importance to Europe's energy security and its prospects as a transit and pricing hub in an integrated southeast European market Greece's choice of project is not random Our PCIs aim to create the necessary precondition and have two-fold objective one To facilitate access for southeast Europe to diversified sources via Greece and Second to foster the development of an open mature market Today these features are the privilege of Northwestern states with integrated Mature markets as a result. They have higher security of supply equally important as As a result of hub mechanisms, they have wholesale gas prices, which are on average 35 percent below prices for the more remote states which rely on oil indexed contracts The gas interconnector between Greece to Bulgaria has a crucial role and has been included in the PCIs list This interconnector it's a small one. It's an interconnector less than 180 kilometers But of crucial importance this interconnector constitutes a gateway to southeast and central Europe It is the only way this region can access the southern corridor Working in synergy with TAP and the regional infrastructure The it's the IGB can potentially deliver gas right up to Hungary Greece Bulgaria Romania Hungary We consider Developing a vertical axis south to north Also known as the central gas corridor This will connect our LNG import terminals with Bulgaria Romania Hungary and possibly even Serbia and the Baltic sea It can be in place in early 2017 via Greece and the IGB Southeast Europe gains exposure to major European markets and hubs The two PCIs regarding the floating storage and regressification unit in the northern Aegean Also contributes to market development by providing access to even more diversified supplies challenge number three To develop a low carbon society, which is more relevant than ever the Ukrainian crisis confirmed this Would it not be wise to reduce dependence and its cost by saving and producing energy in Europe? Wouldn't Ukraine be less vulnerable if it is it consumed less currently It's energy intensity the energy the Ukrainian energy intensity is 10 times the OECD average on the contrary The European Union has made important progress It has the lowest energy intensity of all world regions and the highest demand for renewable energy Greece is also contributing to Europe's push to develop new sources of hydrocarbon and This is challenge number four Remarkably Greece remains one of the most Underexplored and yet promising countries when it comes to oil and gas fields Why this is the case is a rather complex issue What matters now is that after 15 years of putting this issue aside a new chapter for Greece's hydrocarbons has started since 2010 We have implemented a new strategy and new policy tools to unlock our national oil and gas potential I'm therefore excited and it is one of my personal priorities to be at the helm of Taking forward Greece's new horizons for hydrocarbon exploration Today two major international tenders are underway first The second official license in round in the offshore area of Ionian and South of Crete It consists of 20 blocks designed after considering a significant number of parameters most importantly the sea depth the geology and the environmental conditions first of all as you can see on this map This area of Western Greece is the continuation of the geological patterns of Albania Where we actually have one of the most important European oil fields to date Analogs in geology are also found in South Italy an area rich again in the in hydrocarbons The difference with these two areas is as I mentioned that Greece remains Characteristically unexplored Secondly in 2012 Greece commissioned the Norwegian company PGS to conduct an extended seismic survey over 225 square kilometers in Western Greece and South of Crete It is the largest regional seismic survey ever undertaken for Greece's offshore The database comprising 30,500 kilometers seismic lines and aptly named the Greece mega project aims to provide high quality data on Greece's frontier basins coupled with interpretation of this data by the Distinguished and having good knowledge for the geology of the greater area the distinguished French Institute basic Second is the tender for the three onshore blocks in Western Greece following the express of interest by the Italian company and L I'm naturally cautious, and I don't like to make predictions however, I Can mention a few of the reasons why we're optimistic and believe that Greece presents a great opportunity for international oil companies to invest Data rooms are available in Athens Houston London, Singapore and Oslo The interest so so far by oil companies, especially major ones Reviewing and buying available data is very encouraging They are Ionian Sea area with already proven oil reserves Creates an eye-catching investment opportunity for oil and gas exploration and production the south of Crete area with less data available and bigger depths could be characterized as high risk high yield according to a Deutsche Bank report published in November 2013 Anderson natural gas reserves south of Crete could reap an estimated more than 400 billion euros It is important to underline that Greece now possesses a transparent and simple Legal framework which integrates the latest trends and the best international practices for concession rights In creating this we have capitalized on the know-how of leading countries such as Norway, Britain and Denmark In addition to the above We have a very favorable corporate tax Which has been lowered from 40 percent to 20 percent We also have an efficient and newly established authority The so-called Hellenic hydrocarbons resources management company We also have strict EU environmental regulations and last the largest commercial fleet in the world Most importantly, we have the vote of confidence by the industry itself In 2012 we launched an open-door tender for three onshore and offshore blocks in Western Greece It resulted in the signing of three contracts ratified by the Greek Parliament and Already the beginning of the exploration work program by the contractors Same as in these cases the above mentioned three cases all Contracts will be ratified by the parliament thus providing much greater security to the investment I Would like to note that there is a wide consensus Within the Greek society Regarding the path for the exploitation of our natural resources and in general terms Within the political system too despite the inevitable differentiations Local societies are eager to endorse investment plans in the region and provide qualified workforce Now ladies and gentlemen Europe cannot risk realistically achieve Some dependence in any case Europe cannot achieve full energy independence however excessive energy dependence under mines economic and political independence Overcoming this is critical to our security and economy This is why Europe Shares America's commitment to ensure free access to markets and strategic resources and Why NATO has identified energy security as the key security issue of our time Our hope is that the reserves of the eastern Mediterranean Will serve as a catalyst for regional cooperation and contribute to peace and stability It's challenging But with political with will energy can create cooperation This is the benchmark of Greece's energy diplomacy in Europe and in the East Mediterranean Energy challenges are global Obviously, we can address them more effectively by stressing our Interdependence and working collectively This is essential for our prosperity peace stability and for our strength This is essential for the welfare of our communities our bed And I'm finishing with this our bet is to prove that European cooperation and integration in the right Is the right way? The only way to overcome such challenges. Thank you very much for your attention or I can just do this I think I pop my thing off Well minister or we can bag it and go to the microphone Well minister, thank you so much. I can understand why you were you are an excellent professor. That was a very detailed Lecture and that will ask your students. Thank you so much. We have about 20 minutes for discussion I'm going to get you all warmed up I'm going to give the minister a few opening questions and then we'll open the floor If you could raise your hand And we will have a microphone passing around if you could identify yourself Please your name your affiliation and pose a question to the minister We're going to take a few questions at a time to bundle them a little bit to try to get as many Questions as we can Minister I have to say I love the word Greek Covery. That's I'm using I'm stealing that one It's so much better than Grexit. We want to expunge that Greek Covery Good good exactly and And I think the domestic energy renaissance For Greece the offshore potential the onshore potential as well as the energy diversification It's it's really an extraordinary story, and I want to thank you so much for for sharing that with us I have two questions for you, and I'm going to pull from your other part of your title the climate change in Your title, and I know your your your conversation today was dedicated to energy security But let me ask you last week the European Council passed a very ambitious Target for 2030 to reduce emissions by 40 percent By 2030 to 1990 levels and I was actually surprised that There was agreement on that there was a lot of diversity of opinion as there always is among 28 countries There's always a diversity of this many times surprised to have an agreement in European Union in some So it's islands in issues. Tell me a little bit on the climate change agenda Greece's renewable energy Focus and how you looked at these very ambitious targets considering where Competitiveness trying to get economic recovery is still very difficult. I'd love your reflections on on The new EU policy and some of Greece's plans Let me summarize that the European Council's decision The decision has three three points three pillars one forty percent reduction for CO2 emission binding target second 27% entrance offer renewables in the energy mixture of The 28 member states with no concrete discrimination on on on each one Member state and third an indicative target of 27% Energy efficiency and energy savings. Let me just add that for the Greek state for the Greek government for Greece the 27 target is will be 30% for renewables and the 27 percent target for energy saving Will be also 30% because we strongly believe that renewables and energy Savings and energy efficiency constitute basic crucial Components of our new development model. We want to go to pass To to to to Greece to Greek economy which changes the page from austerity to development From austerity measures to measures that create new jobs And of course in order to increase the public at private income you need to have clear transparent Development priorities so The the coming back to to the decision of the European Council. It's an ambitious decision. I Hope that all the other stakeholders of big big economies all over the world For the preparation of the 2015 national conference in Paris on the climate change and energy priorities Will take such ambitious initiatives Finishing with this answer. I have to say that Greece has great major potential in In in renewables in wind parks and in solar Installations and we are going towards this this direction Thank you. And in the reason I wanted to talk about the the very ambitious target is because in Some ways there there's a competitiveness gap between the United States and Europe on energy and that's the impact of the US unconventional revolution shale gas and and shale oil and that's exactly why I was surprised by the outcome because European energy prices now And sometimes in very specific countries like Germany are almost three times as high as they are in the US We're seeing anecdotal evidence of European manufacturing coming to the United States, which is of course always welcome But that certainly would not be news to European politicians as industry is beginning to look at alternatives So how how is the US unconventional energy revolution impacted? Greece if any impacted the European perspective on on energy security Well, I was lucky during the first semester of 2014 as president Greece had the presidency of the European Union as president in two ministeria councils one for ministers for energy and the second ministers for Environment I have faced this question What are we going to do with the European industrial competitiveness in relation to Paris? with for example the extremely lower cost energy cost in the United States due to the shale gas revolution and We have worked together with the industry in order to find a solution It's it's obvious that shale gas shale oil is a revolution which gives comparative advantage to Each country where it happens on the other side we have the duty that the application to see and some other parameters We have agreed with the European industry that put these ambitious goals for the climate change and energy framework at the same time opening the markets Implementing structuring the the The connectors that do not exist now and taking some other measures. We will help the competitiveness of the of the European Industry We need Europe always needs to take decisions in a balanced way in a balanced way There are many countries who Are not in favor with shale gas, you know that in Europe there is different geology than in the United States also Europe has another Characteristic is an extremely high density from a urban from urban settlements point of view A region of the world so there are some countries like Great Britain, Poland, Croatia And others are in favor with shale gas and are going on According to an estimation coming by the European Commission Europe could Decrease its energy dependency if the the the member states could use and develop the Shale gas could decrease its energy dependency up to 60 percent So it's it's it's a problem. It's it's a problem. But in any case, it's free for all the countries to decide whether or no to develop Fracking methods in any case for the Greek site. It's not something we're discussing We have so many other interesting things to do. I have already described you our Projects, this is the answer Wonderful, I'd be remiss before I turn the questions over to the audience to talk a little bit about the the dynamics and the eastern Mediterranean in February we hosted the Cypriot mediator for the talks and there was great hope that the energy Potential Could be a promising start to reunification talks and now that has come to an end We've seen now where Turkey is sent to naval vessels a research ship And Unfortunately in addition to the strong message the council sent last week. Where do we go from here? What's the path forward? Commercially, we need stability to get those resources, but clearly we don't have a path forward What what is your thought as we look to the future? And and we want this to be an issue that we're regional Conversation can bring prosperity to all not prevent that prosperity Well, I would like to listen to the answer of not coming not from a Greek or Cypriot minister, but from another side Why all this since natural resources? can become an Important source of prosperity and peace for the greater region in any case Cyprus has The Cypriot democracy has made clear many things for example natural gas will be for the benefit of both communities all legal citizens, but first of all we need to to to solve the To arrange the the Cyprus issue It's it's very clear and of course one cannot avoid to condemn the legal behavior of a country wanting to become a European one when takes such measures like the NAFTEX on the on the sovereignty in territorial seas and Sovereign rights on the exclusive economic zone of an independent state Which is member of the United Nations and is member of the European Union, so I Think that president of Stasiades Has given the necessary time in order for Turkey to revise to examine again its Attitude I hope that Everybody will be wise enough in order to see that peace Cooperation is the only solution for the Problems of the greater area. I hope so too. Well, please we would love to welcome you into the conversation We have a question Mr. Lee right down in the front and then we have a question here Thank you very much, and thank you minister for an extremely interesting presentation staying for a moment with the eastern Mediterranean Could I ask you to evaluate the conditions that would be necessary for these two projects? Chapter in the transatlantic trade and investment partnership, and we would welcome your reflections on How energy plays into the transatlantic trade discussions of course, Mr. Lee and the electric Great question Just a brief answer on the second question. I had the chance to participate in this Bilateral let's say between the European Union and the United States Debate I think that energy can become an Infrastructure for implementing For coming to an end all these negotiations. I am afraid that the energy issue Could be one of the positive Issues to be examined and completed, but there are also many other things that the commercial level where where the two sides cannot find so easily Cannot come to Commonly agreed Confusions, but I think it's it's it's a challenge to come to to an agreement Now about the cable about the two PCI's talking about the submarine the sub the the the the Eurasian Interconnector which is the first Line, let's say the first cable which will connect Asia with Europe in this way I think that the feasibility study is at the at the final stages because All all the parties Israel Cyprus and Greece we are supporting the promoters of of the project and The European Union also supports financially supports the project and gives more flexibility and Speed up of all the necessary bureaucratic and permission and other procedures According to So far approach that the the project is fully bankable and Of course the first stage will be the implementation It's first phase the implementation will contain the the part between Israel Cyprus and the other one between create and mainland grid Grease because in the middle of Cyprus and grid we have the well-known problem a big depths, etc etc From a technical point of view the problems have been solved By the industry, but one has to go in a mature Way in order first of all to implement the more is easy parts Now talking about East Med East Med One could approach East Med as a Stand-alone project, but also as a complimentary project with the LNC facility in Vasily Kohn in Cyprus to our understanding these two Facilities Can work together in order to implement this new a new source and new routine for the supply of For the strengthening of the European Union's energy security East Med pipeline is fully technically feasible We are going on With the first stages of the after the pre feasibility study we're going on with the feasibility study and there are extremely Well documented Results that everything will go on okay, of course, there is the problem of Provide and gas to the pipeline, but I think that with the good cooperation the op-ed the fruitful cooperation between Greece Cyprus and Israel one can find solutions that will permit to the Union to see that in the Coming few years we can implement this new new source and route of Supporting natural gas to Europe in any case finally these two projects are of great importance for strengthening The the energy security in Europe and I think I hope that everybody can understand it. I'm talking about the other member states Because we Greece Cyprus Italy and other countries are very much interested. We are supporting the we're promoting the projects But it will be for the benefit of both projects if it is supported also for Other member states Thank You minister. I think we can take one more very brief question right down the front and then we'll finish up Nicolae regakis with the American Holendic Institute. Mr. Minister. Welcome to Washington and your slides up there regarding where Greece has issue tenders Let me say this each country has its own priorities and the timetable for all the necessary actions we have started as state from Half of the Greek sees which is the 225,000 square kilometers We have plenty time too much work to do in a mature Area area where we we are sure that we will find Investors because many times We are discussing on politics to your politics, etc. And when you come to the basic question is okay How many investors will you find in order to to invest in such areas? for example, we know having all the necessary geological and seismic data available that in these areas there will be enough for many Investors What I can say for a gene is not only for it's in but also for All the territory of Greece We will explore each square kilometer of the territory and of the sea of the seas where the Greek state Exercises sovereignty or has sovereign rights. This is The answer everywhere, but according to a concrete Time table taking into account what we can do. I mean from the Manpower point of view We have just started now We are in progress for implementing the whole project. We have too much work to do for the coming at least 15 years Well, minister, I let me begin by thanking you for an incredibly detailed and important conversation about Really impressive energy dynamics in Greece in the region and and beyond. I know you're going to be meeting with Secretary Moniz and other US officials and sharing this information, but it has been a great privilege To to hear directly from you about Greece's very ambitious energy diversification plans I hope you'll come back and tell us how those plans are proceeding because it seems like there's a lot of work ahead And we hope you'll return to us In the future again I'd like to thank our audience for being with us always great insightful questions And we hope you return back to CSIS for future events, but please join me in thanking minister manatas for a great presentation