Ultimately Big Oil will decide the fate of Greek hydrocarbon deposits
- Written by E.Tsiliopoulos
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As U.S. companies, Chevron and ExxonMobil benefit from American diplomatic and military support, especially when US interests intersect with strategic allies like Greece, particularly in regions like the Eastern Mediterranean.
This is evident by the recent statements of Kimberly Guilfoyle, US President Donald Trump’s nominee for US ambassador to Greece, who told the Senate Foreign Relations Committee that her top priorities during her tenure will be defense and energy cooperation.
Mrs. Guilfoyle outlining her main priorities, approved by State Department and the Pentagon, confirming that her positions are actually US President Trump's Administration policy for the area, highlighted defense and energy as key areas of US-Greece cooperation. She also praised Greece as a “pillar of stability in a complex region”.
Regarding energy cooperation, Guilfoyle pointed to key infrastructure projects, and committed to helping Greece commercialize investments in energy with its neighbors including Cyprus, Israel, and Egypt, which contribute to regional energy diversification and security.
In regions where maritime boundaries are disputed (like the Eastern Mediterranean), their activities are usually backed by thorough ane well researched legal agreements and exploration licenses recognized under International Law.
That is why the Greek government is relying on Chevron’s influence in decision-making centers in the US in its dispute with Libya, and by extension with Turkey.
In the wake of the fruitless contacts between Foreign Minister George Gerapetritis and the Tripoli government on delimiting maritime zones far from the logic of the Turkish-Libyan memorandum, the Greek Energy Minister Stavros Papastavrou had a telephone conversation on the afternoon of the same day (Tuesday) with Chevron’s vice president of global exploration, Liz Schwarze.
According to what was announced by the ministry, the discussion focused on the next steps and indicative timelines regarding Chevron’s surveying prospects in the context of the company’s ongoing interest in conducting hydrocarbon exploration in Greece.
The message that the ministry is sending with this move, with Turkey and its allies in Libya as its clear recipients, is that the US giant’s interest in Greek hydrocarbons remains strong, which means it effectively recognizes Greece’s sovereign rights in the specific area.
The fact that Chevron and ExxonMobil have also expressed interest in the Libyan plots could be translated as a strategic move attempting to create an energy "buffer zone" between the disputed EEZs of Greece and Libya, with a future possible prospect of co-development of the respective energy sources,which in any case is weakening Turkish efforts to implement the illegal Turkish-Libyan memorandum,
It is also interpreted by Athens as a positive development and supportive to the US company’s interest in Greek hydrocarbons.
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