Exxon Mobil has signed a deal to explore for natural gas offshore Greece, increasing the U.S. presence in the eastern Mediterranean just as the Trump administration…
Exxon Mobil has signed a deal to explore for natural gas offshore Greece, increasing the U.S. presence in the eastern Mediterranean just as the Trump administration seeks to replace Russian energy flows into Europe.
The United States, which holds vast reserves of domestic natural gas, wants to provide a larger share of Europe's energy mix via liquefied natural gas as the European Union seeks to phase out Russian gas imports in the coming years.
"We have a tremendous opportunity right now to displace all of the Russian gas - every last molecule - out of western Europe," U.S. Energy Secretary Chris Wright told a conference in Athens on Thursday.
"Every molecule that Russia does not sell into Europe…stays in the ground, it does not go into the pocket of Russia’s war machine."
Under Thursday's deal, Exxon will partner with Energean, whose flagship gas fields are located offshore Israel, and Helleniq to explore for natural gas in Block 2 offshore Western Greece, the companies said on Thursday.
"This significant exploration agreement paves the way for potential future exploratory drilling investments in the 2027 timeframe," said John Ardill, Exxon's vice president of global exploration.
GAS COULD FEED INTO TAP PIPELINE
The
Content Original Link:
" target="_blank">
