Significant economic and geopolitical benefits would be provided by Greece in case of discovery of hydrocarbon deposits, for which there are very serious indications, points out the Energy Institute of Southeast Europe, in a special report on the possibilities of exploiting their potential.
It is noted that government announcements are imminent for the facilitation of investors and the acceleration of investigations in the areas that have already been granted for research, with emphasis on the sea areas of the Ionian and Crete.
According to the IENE report, “there are very serious indications of the existence of geological structures, capable of containing very significant quantities – mainly natural gas, which, if confirmed by drilling, could cover a serious percentage or even our needs, as long as and to act as a lever to restrain upcoming price increases, with multiple positive consequences for our country (geostrategies) “.
IENE cites recent studies by the Hellenic Hydrocarbon Management Company (EDEY) and the Academy of Athens, as well as publications by reputable academics and companies, which converge to the conclusion that there is a high probability of very significant natural gas reserves in the country. , Thassos, hydrates in the SE Mediterranean, biogenic gas in the NW Peloponnese and Ionian Sea).
“In the marine areas where seismic reconnaissance surveys have been carried out, more than 30 potential research targets have already been identified, which, with additional surveys, could become exploration drilling targets for the discovery of hydrocarbon deposits. 4 of the drillings in the geological structures located in the Ionian Sea areas and south and west of Crete, then these structures could accommodate potential reserves of 70-90 trillion cubic feet of gas, according to data from EDEY20, capable to cover 15% -20% of EU consumption “, the Institute states.
The report also reiterates the estimates of EDEY, according to which, the potential value of Greece’s natural gas reserves exceeds 250 billion euros. In terms of benefits, it is pointed out, among other things, that by exploiting the deposits, Greece:
* It is largely released from the manipulation of gas flows
* In case of geopolitical crises, it will not be energy dependent on third countries and potentially negatively located in Greece
* Can become an EU supplier, which is currently heavily dependent on Russian gas
* Can gain more flexibility and more negotiating “weapons” in transnational talks and consultations
* The existence of productive marine deposits will give a new impetus to the Greek positions regarding the issues of marine zones, etc.
* The presence of international companies in Greek waters will further enhance the visibility of Greece among the countries, the organizations for the issues of the region, its security, the observance of the Law of the Sea and the maintenance of calm.
Finally, when asked if there is time for the discovery and exploitation of the deposits, given the EU’s carbonization policy, IENE answered in the affirmative, citing the rapid procedures applied by Egypt to start production from the Zohr and Tuna deposits.
Source: Capital
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