Chevron has expressed interest in exploring for oil and gas off the coast of Greece, according to the Greek Ministry of Energy and Environment. This move aligns with Greece's national strategy for energy independence and cost reduction. The exploration area of interest is southwest of the Peloponnese peninsula and west of Crete. Greece aims to bolster its domestic energy supply through renewables and offshore gas exploration following the 2022 energy crisis and the halt of Russian pipeline gas to most EU countries.
U.S. supermajor Chevron has expressed interest in oil and gas exploration offshore Greece , the Greek Ministry of Energy and Environment said on Monday, adding that exploration is part of the national strategy for energy independence and lower energy costs. Chevron is interested in exploring the area southwest of the Peloponnese peninsula and to the west of the island of Crete, according to the Greek ministry.
Greece sees natural gas as the bridge fuel for Europe by 2050 and for the rest of the world after 2050, it added. “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,” the ministry noted.
ENERGY EXPLORATION GREECE CHEVRON OFFSHORE GAS ENERGY INDEPENDENCE
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