The Ministry of Environment and Energy announced a significant development in the national strategy for energy independence and cost reduction, alongside initiatives to enhance the protection of the marine environment. The Ministry has accepted an expression of interest from a company and will issue a related decision within the week, outlining the scope and launching an international tender. In the near future, the spatial expansion of the research area will also be evaluated.
At the same time, the Hellenic Hydrocarbon Resources Management (HHRM) has submitted the Strategic Environmental Impact Study.
"The natural gas we aim to discover and extract is a vital bridge fuel for Europe until 2050, and for the rest of the world beyond 2050. Thus, tapping into potential domestic reserves is of significant energy, economic, and social importance for a financially sustainable green transition," emphasizes the Ministry, adding:
"The interest shown by Chevron, alongside the ongoing operations of ExxonMobil in Greece, marks the concurrent presence of two energy giants, reinforcing the belief that Greece can play a leading role in the global energy market. This also confirms that Greece remains an attractive investment destination.
Moreover, it serves as further recognition of the strategy pursued by the Greek Government, the Ministry of Environment and Energy, and HHRM to exploit the country's natural gas reserves for the benefit of national energy independence, security, and economic growth.
Importantly, this development is taking place with a strong focus on minimizing environmental impact, ensuring that it will deliver both energy and significant environmental benefits for the country.
First, authorized offshore exploration areas in the Ionian Sea will be released, expanding the Ionian National Marine Park and helping to meet its environmental goals.
The study, nearing completion, covers a marine area extending from the Antikythera Islands, encompassing a continuous maritime zone along the southern and western coasts of the Peloponnese, including Zakynthos, Kefalonia, Ithaca, and Lefkada, and surrounding the environmentally significant Strophaades islands. An agreement has already been reached with the leasing company to release the affected sections.
Second, in collaboration with the contractor company, the "Katakolo" oil concession off the western coast of the Peloponnese will be released and included in the new National Marine Park.
Minister of Environment and Energy, Thodoros Skylakakis, stated: "The investment interest from another global leader, Chevron, underscores international investors' confidence in the Kyriakos Mitsotakis government and highlights Greece’s potential to become a regional energy hub and secure its energy independence. I extend my sincere thanks to the CEO of HHRM, Mr. Aristophanes Stefatos, and Secretary General for Natural Environment and Water, Mr. Petros Varelidis, and their teams for their dedicated efforts in achieving this milestone."
