EDITOR’S NOTE (Nick Stamatakis). I do not think any of us believe that it was a coincidence that Chevron announced its interest in oil exploration in Southwestern Greece on the day of the Trump inauguration… Helleniscope has often noted the utter financial stupidity of transferring American LNG to Europe and selling it there at 3-4 times higher than the Russian gas the European economies are currently “used to” buy. At a time when Greece, Cyprus, Egypt, and Israel have known reserves more than enough to “quell the thirst” of Europe…  This is the right way for America to make money – use its expertise and financial power to explore Greek hydrocarbons…

With an asterisk (*): The U.S. will apply to Greece the same international laws that it used in delineating its maritime zones with the Bahamas and Cuba – the same laws it is ready to go to war with China to force their application in the South China Sea!! Why should Taiwan and the Philippines have more rights than Greece?!! And a second (**) asterisk: that the sellouts of the Greek political elites will draw the proper lessons from today’s historic inauguration of President Trump and stop “inviting” Erdogan to share the Aegean!! Do they realize that the Aegean is the birthplace of what we call “HELLAS” – and not a piece of property their grandfather left for them? When will they start “Making Greece Great Again”?

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source – money.usnews.com

Chevron Expresses Interest in Greek Energy Exploration

ATHENS (Reuters) -Chevron is interested in energy exploration in Greece, the U.S. oil producer and the country’s energy ministry said on Monday.

Chevron has submitted a non-binding expression of interest for one open block to Greece’s Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA), the company confirmed.

The government welcomed Chevron’s expression of interest. A decision will be issued this week on the exact area of exploration and an international tender will be launched soon, the ministry said in a statement.

“It is a very important development, part of our national strategy for energy independence and reducing energy costs,” it said.

Chevron operates gas fields in Israel and has interests in Egypt and Cyprus.

“Chevron has a large and important position in the Eastern Mediterranean, a region which is very much a part of our future and a priority for us,” a company spokesperson said.

The area being looked at ranges from southwest of the Peloponnese peninsula to west of the island of Crete, the Greek ministry said.

With the new tender, the research area for exploration will eventually be increased by 25%, or by 11,000 square kilometres (4,250 square miles), government spokesperson Pavlos Marinakis said.

The European Union has sought ways to reduce its reliance on Russian gas following Russia’s invasion of Ukraine. That has increased the need for Greece to tap domestic resources.

Greece, which views gas as a transition fuel as it ramps up its renewable energy capacity, has produced small quantities of oil in the past and has attempted to explore its hydrocarbon potential.

In October, the country said that an ExxonMobil-led consortium would move to the second phase of seismic research for gas exploration in a block off Crete.

In the meantime, some already licensed offshore areas in the Ionian Sea would be released to expand a planned marine park, the ministry said on Monday, adding that an agreement had already been reached with the licensees on the issue.

Greece, which in 2020 signed an agreement on maritime boundaries with Italy, aims to create two marine parks in the Ionian and Aegean seas, for the protection of marine biodiversity, sea mammals and seabirds.

A government official told Reuters that environmental studies on the Ionian marine park – a first step in defining its boundaries – would be ready this month.