Greece Plans Natural Gas Production with Chevron and ExxonMobil Contracts
The Greek government aims to transition from an energy hub to a natural gas producer, as outlined by Energy Minister Stavros Papastavrou in Parliament. The plan includes agreements with Chevron and ExxonMobil, with exploratory drilling in the Ionian Sea expected to begin by early 2027. The success of this initiative relies on the commercial viability of natural gas deposits. Papastavrou addressed concerns regarding a clause in the Chevron contract related to sovereignty, asserting it reflects standard legal practices.
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Greece is set to become a natural gas producer through agreements with Chevron and ExxonMobil, according to Energy Minister Stavros Papastavrou. The government's plan includes exploratory drilling in the Ionian Sea within 12 months, the first in 50 years, contingent on the commercial viability of natural gas deposits.
Papastavrou noted the strategic investments in infrastructure have transformed Greece into an energy hub. He also responded to concerns regarding a clause in the Chevron contract that critics argue could affect Greece's sovereignty, stating that it is a standard legal provision and does not imply acceptance of any adverse scenarios.
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