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Chevron interested in Greek hydrocarbon exploration, says energy ministry
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Chevron interested in Greek hydrocarbon exploration, says energy ministry
Jan 20, 2025 2:09 AM

ATHENS, Jan 20 (Reuters) - U.S. oil producer Chevron ( CVX )

has expressed interest in exploring for hydrocarbons

southwest of the Peloponnese peninsula in Greece, the Greek

energy ministry said on Monday.

The ministry's statement added that it would issue a

decision this week on the exact area of exploration and would

launch an international tender soon.

"It is a very important development, part of our national

strategy for energy independence and reducing energy costs," the

ministry said.

Russia's invasion of Ukraine and fears over gas supplies in

Europe have forced the European Union to seek ways to reduce

reliance on Russian gas. That has increased the need for Greece

to tap domestic resources.

Greece, which views gas as a transition fuel as it ramps up

renewables capacity, has produced small quantities of oil in the

past and has attempted to explore its hydrocarbon potential.

(Reporting by Angeliki Koutantou

Writing by Renee Maltezou

Editing by David Goodman

)

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