Handelsblatt: Giant gas reserves in Greece – All of Europe could benefit

Europe is facing a major energy sufficiency crisis, major organizations estimate and warn of decision-making in the near term as time is running out. THE Commission claims to be working on a comprehensive plan that will address accuracy and adequacy for next winter. However, Ursula Von der Leyen and her colleagues cannot propose a solution even for the price of natural gas, causing… division of the European Union and great tensions between the leaderships. All sentences must aim in Europe’s energy independence from Russia. In order to actually do something like this and at the same time check the accuracy, there is one way: Find other sources of power. At this point, Greece and the natural gas deposits in the Greek seas, the utilization of which was put into effect a few 24 hours ago, appear dynamically.

Mitsotakis accelerates the investigations

“2,000 billion cubic meters of natural gas off the Greek coast. Greece wants to exploit huge reserves. Prime Minister Mitsotakis accelerates the search for natural gas. Their exploitation could start as early as 2027. The whole of Europe could benefit” says Gerd Heller, correspondent of the economic newspaper Handelsblatt, in a report from Athens. DW reproduces. The lengthy report focuses on the recent announcements by Prime Minister Kyriakos Mitsotakis about the start of seismic surveys by the ship Sanco Swift in the area southwest of Crete and the Peloponnese and later in the Ionian Sea on behalf of the companies Exxon Mobil and Hellenic Energy.

Because the plan remained in the drawer

The report characterizes these actions as “a new move by Greece towards the exploitation of natural gas fields in its open waters” and observes: “This is an issue that for years had been sidelined for reasons of climate policy but also because of the supposed reliable availability of cheap Russian natural gas . Now the war in Ukraine and the energy crisis demand a reconsideration. Greece is now looking for a replacement for Russian natural gas, which in the past covered 45% of consumption. However, the potential deposits are not only of interest to her Hellas (…) Based on last year’s consumption, they would be enough to supply the entire EU with natural gas for over five years.”

The report extensively presents the available data for hydrocarbon deposits in the areas south-west of Crete, the Peloponnese and the Ionian Sea as well as the projected timetables for research in these areas based on expert assessments by the involved agencies and government actors.

Among other things, the report notes: “Also in the Aegean it is assumed that there are hydrocarbon deposits. So far, however, no research has been done there because Greece and Turkey disagree on the demarcation of the economic zones. However, Turkey has not made any claims for the areas that are the focus of the current investigations.”

Skai.gr, DW

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