Sta end of 2025 with beginning of 2026 placed by the Minister of Environment and Energy Theodore Skylakakis the first exploratory drilling for natural gas in our country, speaking today at the meeting of the “East Mediterranean Gas Forum” (EMGF) held in Athens.

As the minister pointed out, the gradual restriction of Russian natural gas imports to the EU increases the importance of the Eastern Mediterranean for ensuring energy security and diversifying Europe’s supply sources.

In this context, Greece already plays an important role in supplying European countries with gas from the Eastern Mediterranean region which is transported in liquefied form, gasified and introduced into the Greek network and further channeled through the existing international interconnections.

At the same time, the procedures for hydrocarbon investigations in Israel, Egypt, Cyprus and Greece are in progress. Mr. Skylakakis made special reference to the development process of the “vertical” natural gas corridor with investments to enhance the transmission capacity from the Greek network to the north.

At the same time, he formulated the proposal to extend the purpose of the EMGF to the field of underground storage of carbon dioxide, an activity that is expected to develop further in the coming years as the decarbonization of the industry accelerates. For this purpose, it is planned to use depleted natural gas fields as storage, among them the Prinos field with investments financed by the Recovery Fund.

Answering questions, Mr. Skylakakis said that the ministry’s plan for the development of energy storage, which is necessary to balance the system in conditions of high penetration of renewable sources, will soon be presented. According to the data he presented, in April RES (together with large hydroelectric plants) covered over 63% of the electricity demand in our country.

The head of the EMGF, Osama Mobarez, praised the role of our country in connecting the Mediterranean Sea with the EU, while the director general of the Ministry of Energy, Trade and Industry of Cyprus, Marios Panagidis, referred to the role of Cypriot energy deposits for the energy security of the EU. as well as the plans for energy interconnections to lift the isolation of the island.

Members of the East Mediterranean Gas Forum are: Greece, Cyprus, Egypt, France, Israel, Italy, Jordan and Palestine) while the EU, the USA and the World Bank participate as observers.