Greece is entering a pivotal stretch on the energy front. At
Greece is entering a pivotal stretch on the energy front. At the center of developments are new hydrocarbon exploration agreements with Chevron, a fresh LNG supply deal involving the Vertical Corridor pipeline network and a U.S.-convened ministerial summit on Feb. 24. Together, these milestones could further position Greece as an energy gateway for Southeastern and Eastern Europe.
Chevron Signs Offshore Exploration Agreements in Athens
By Feb. 20, senior executives from Chevron are expected in Athens to sign concession agreements with Greece’s Ministry of Environment and Energy and the Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA).
The agreements cover four offshore blocks: “South Peloponnese,” “A2,” “South of Crete I” and “South of Crete II.” Chevron’s partner in the venture is HELLENiQ ENERGY. The combined exploration area spans approximately 47,000 square kilometers.
The contracts are expected to be submitted to Parliament by March for ratification. Once approved, the next phase will involve seismic surveys. Approval of the Environmental Action Plan is expected in the fourth quarter, as set out in the government’s unified policy framework for 2026. Seismic surveys are expected to begin late this year or in early 2027.
Chevron’s regional engagement is not limited to Greece. Company
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