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Economy

Greece Wants to Speed Hunt for Gas in Ionian Sea, Off Crete

ATHENS – Already in an arms race with Turkey, Greece now is also battling to reach more gas supplies and the New Democracy government said it would pump up the pace of trying to find it in the Ionian Sea and off Crete.

Sources not named told the state-run Athens-Macedonia News Agency AMNA that the goal is to diversify supplies as Greece had moved to reduce dependency on Russian gas – 40 percent coming from there.

Greece’s vulnerability, as well as that of the European Union, on Russia for energy was shown after the bloc imposed sanctions for the invasion of Ukraine but said it would still buy gas.

The report said the intent now it to finish seismic surveys by the end of 2024 – those give first indications of the possible exisence of deposits – and then try to produce gas from 2028-29 if enough is found.

The officials noted that the privately-run Hellenic Petroleum had been carrying out similar surveys in the Ionian Sea in February and that it took only several weeks.

 

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