In the presence of Prime Minister Kyriakos Mitsotakis, the lease agreements between the Hellenic Republic and the Chevron – HELLENiQ ENERGY consortium were signed yesterday, February 16th,  at the Maximos Mansion, granting exclusive rights for the exploration and exploitation of hydrocarbons in maritime areas south of the Peloponnese and Crete.

The ceremony was also attended by the Minister of Environment and Energy, Stavros Papastavrou, the United States Ambassador to Greece, Kimberly Guilfoyle, the Vice President of Chevron Global New Ventures, Gavin Lewis, and the CEO of HELLENiQ ENERGY, Mr. Andreas Shiamishis.

In his statement, the Greek Prime Minister, addressing the U.S. Ambassador, said, among other things:

“A few months ago, at the P-TEC (Sixth Partnership for Transatlantic Energy Cooperation) meeting, which was particularly successful, as you recall, Madam Ambassador, we announced that we would proceed with the first exploratory drilling in Greece after more than 40 years. Today, we are taking another major step forward; indeed, I would say more of a leap.

The four blocks in which Chevron and HELLENiQ ENERGY will operate are covering a massive area. When you look at our exploration program, it currently covers approximately 48,000 square kilometers and, following this agreement, simply with its signing, this area will increase to 94,000 square kilometers. The area available for exploration will nearly double.

Greece fully understands the role hydrocarbons play in our energy system — and will continue to play for years to come. For this reason, we have heavily invested in natural gas pipelines, compression stations, LNG terminals, and gas-fired power generation units. This comes alongside other strategic initiatives. Of course, we continue to implement major investments in renewable energy sources, utilizing our significant solar and wind energy potential. In the past, we were an importer of electricity, but today we are a major exporter.

At the same time, the historic decision of the European Union to gradually phase out imports of Russian natural gas offers significant new opportunities for our country. Greece already has the infrastructure to help its neighbors gain access to natural gas supplies through new corridors. We believe in the Vertical Corridor as an alternative to Russian gas. As Europe eliminates supply from Russia, this corridor will gain greater geopolitical and economic importance.

We also want to produce our own gas. Europe needs it, and we want to supply it. Chevron’s entry into Greece constitutes further proof, Madam Ambassador, of the very strong strategic relationship between Greece and the United States, a relationship that grows stronger day by day.

The outcome of exploration is uncertain. We all understand this. We will not have a clear picture of what lies there until we make the effort. But we do believe in this mission.”

In her response, the U.S. Ambassador to Greece stated, among other things:

“Thank you, Mr. Prime Minister, for your leadership and your commitment to ensuring that bilateral relations between the United States and Greece remain strong, vibrant, and, as you pointed out, strengthened every day.

Under the leadership of President Trump, we have made it a clear priority to support our strategic ally in this very important geopolitical region — and that ally is Greece, which has remained steadfast and consistently exceeded expectations.”

Mr. Papastavrou, for his part, stated, among other things:

“Today’s signing marks a strategic milestone, and we are optimistic that it has the potential to prove historic for Greece’s energy policy and energy security — and, by extension, for Europe’s energy security.

For the first time, we are exploring potential natural resources south of Crete, positioning Greece as a prospective natural gas producer for the benefit of our country, our citizens, and Europe.”

The Vice President of Chevron Global New Ventures stated, among other things:

“Mr. Prime Minister, it is an honor and a privilege to be here at this auspicious occasion. The addition of these four blocks through this agreement brings an exciting opportunity to our portfolio. This is an exciting milestone for exploration activities in Greece.”

Finally, the CEO of HELLENiQ ENERGY stated:

“This signing is a milestone for us, as a company and as a country. As the Prime Minister said, we are doubling the exploration area in Greece, which is very important for us.”

Source: www.amna.gr, primeminister.gr