Greece started a large search for availability of nature gas near Crete

A large-scale search for the availability of natural gas near Greek islands in the Aegean Sea began today, the Ministry of Energy in Athens announced.

The leading energy company for extraction and processing of oil and natural gas, Exxon Mobil, today started the seismic surveys off Crete and the Peloponnese. Exploration for natural gas fields began southwest of the Peloponnese peninsula and the island of Crete.

If we have the opportunity to extract natural gas, this will protect the energy security not only of Greece, but also of Europe 

Kyriakos Mitsotakis, Prime Minister of Greece

This development follows the Prime Minister’s decision to accelerate the relevant procedures and the successful geophysical surveys carried out in early 2022 in the Central and South Ionian Sea.

The ship has set off. Its crew is laying the cables, along with the headphones that pick up the return of the waves, so that it can identify the geological structures.

Kostas Skrekas, Environment and Energy Minister

The vessel Nanco Swift is engaged in the equipment and seismic surveys. They will last for 2 years. Based on their results, the consortium will decide whether to continue with exploratory drilling or withdraw. If the investigations prove satisfactory, Hellenic Hydrocarbon Resources Management (EDEY), the state-owned oil and natural gas company based in Athens, estimates that natural gas production will begin in 2027.

According to the preliminary schedule, seismic surveys are planned for 2022-2024, exploratory drilling for 2024-2026, development for 2026-2027, and natural gas production for 2027-2028.

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