Greece to publish hydrocarbon exploration tender by end-April

Greece will be publishing a tender for offshore hydrocarbon exploration in the Official Journal of the European Union by the end of April, following an expression of interest from US energy giant Chevron for areas south of Crete, Energy Minister Stavros Papastavrou said on Thursday, speaking at the 10th edition of the Delphi Economic Forum.

Presenting the timeline, Papastavrou said the first ministerial decision related to Chevron’s bid was signed last week, the second is due on Friday and publication will follow. Expressions of interest will be accepted through August, with the goal of ratifying a contract in Parliament by the end of the year.

The minister clarified that the targeted area lies entirely outside any zones claimed by Turkey, stressing there is no legal basis for objections from Ankara. Chevron’s interest, he added, followed thorough geological and geopolitical assessments.

On the Greece-Cyprus electricity interconnector, Papastavrou called it a critical but complex project requiring discretion and careful planning. He voiced optimism about its progress.

Cyprus’ Energy Minister George Papanastasiou echoed the sentiment, highlighting the project’s significance as the EU’s largest energy project of common interest, backed by €657 million in funding. He expressed confidence that diplomacy would address any geopolitical risks, with the EU offering continued support.

Source: pagenews.gr