Last chance for the natural gas deposits of Greece

The administration of the Hellenic Hydrocarbon Resources Management S.A. (HHRM S.A.) sends clear messages to the political leadership of the country, the social and environmental bodies regarding the fate of the ambitious plan that was opened a decade ago for the exploration and exploitation of natural gas deposits.

In the light of the energy transition to clean, carbon-free 2050 and the intermediate emission reduction targets of 2030, transition of Greece as a reliable and flexible fuel ". HHRM reminds that CO2 emissions are 50% lower than fossil fuels and at the same time describes the country's prospects given the estimates for natural gas reserves in the subsoil of concessions:

"Apart from the emerging role of Greece as a 'hub' of natural gas in the region, the country is also considered to have significant gas reserves," said the HHRM administration. The reserves overshadow those of countries that are already exploiting their resources. "The potential benefits of releasing Greece's domestic gas reserves could be significant: not only in offsetting the significant cost of imports, but also in the possibility of creating an export surplus, given the guaranteed domestic consumption of natural gas." Speaking about the potential of Greece as a producer country, while at another point it underlines that the economic benefits could have a transformative impact. "

Last window of opportunity

HHRM acknowledges that "the hydrocarbon sector has undergone its greatest transformation since its inception almost 200 years ago, driven by the growing awareness that our world urgently needs to become a more sustainable low-carbon economy." It mentions the expansion and redirection of the strategy of the big multinational oil and gas firms and cites as...

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