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US energy giant Chevron wants to invest in Greece - Request for hydrocarbon exploration

Featured US energy giant Chevron wants to invest in Greece - Request for hydrocarbon exploration

Expression of interest from US Chevron for hydrocarbon exploration in Greece. In a statement, the Ministry of Environment and Energy announced today "a very important development, which is part of the national strategy for energy independence and reduction of energy costs, with parallel initiatives for increased protection of the marine environment.

US energy colossus Chevron, the world's second largest private company active in the hydrocarbon sector, has expressed interest in research in the marine area southwest of the Peloponnese and west of Crete, which borders the marine plots of a corresponding tender in 2014.

The Ministry of Environment and Energy accepts this expression of interest from the company and will proceed within the week to issue the relevant decision, which will provide for the exact area and the immediate announcement of an international tender, while in the immediate future the spatial expansion of the research will also be evaluated.

At the same time, the Hellenic Hydrocarbon and Energy Resources Management Company (EDEYEP) is submitting today the relevant Strategic Environmental Impact Study.

The natural gas that we seek to locate and export is a critical bridge fuel for Europe until 2050, and for the rest of the planet beyond 2050.

Consequently, the exploitation of potential domestic deposits is energetically, economically and socially of great importance for an economically sustainable green transition.

Chevron's interest, combined with the fact that ExxonMobil is already active in our country, marks the simultaneous presence of two energy giants and reinforces the belief that Greece can play a leading role in the global energy market and confirms that our country is an attractive investment destination.

Furthermore, it is yet another practical recognition of the strategy of the Greek government, the Ministry of Environment and Energy and the Hellenic Hydrocarbons and Energy Resources Management Company for the exploitation of our country's potential natural gas reserves, for the benefit of the country's energy independence and security, as well as our national economy.

It is important that the above development is carried out with parallel care in terms of environmental footprint, so as to produce not only energy, but also major environmental benefits for the country.

The area of ​​the new Ionian environmental park is increasing
First, already licensed marine hydrocarbon exploration areas in the Ionian Sea are being released, which will spatially expand and make the Ionian National Marine Park continuous, in order to achieve its environmental goals.

The relevant study, which is nearing completion, concerns the marine area starting from Antikythera, covering a continuous marine zone along the southern and western coasts of the Peloponnese, to Zakynthos, Kefalonia, Ithaca and Lefkada and including the environmentally important islands of Strofades. An agreement has already been reached with the leasing company for the release of the detached sections.

Secondly, in cooperation with the contracting company, the “Katakolo” concession, which concerns a small oil field near the western coast of the Peloponnese, is to be released and included in the new National Marine Park.

The Minister of Environment and Energy, Mr. Theodore Skylakakis, stated: "The investment interest of yet another world-class company, such as the American Chevron, underlines the trust of the international investment community in the government of Kyriakos Mitsotakis, while highlighting once again the potential of Greece to develop into a regional energy hub and ensure its energy independence. I would like to express my warm thanks to the CEO of EDEYEP, Mr. Aristofanis Stefatos, and to the Secretary General of the Natural Environment and Waters, Mr. Petros Varelidis, and their teams, for their systematic and consistent work to achieve today's result".