The Greek Ministry of Environment and Energy has announced that Chevron, one of the largest private hydrocarbon companies globally, is interested in exploring natural gas in the maritime area southwest of the Peloponnese and west of Crete. This development supports Greece’s strategy for energy independence and aims to reduce energy costs while protecting the marine environment.
On 20 January 2025, the Ministry will issue a decision outlining the area for exploration and launch an international tender. The Hellenic Hydrocarbon and Energy Resources Management Company (HEREMA S.A.) will also submit a Strategic Environmental Impact Study. Natural gas is considered a vital bridge fuel for Europe until 2050, making exploiting domestic deposits essential for a sustainable transition.
Chevron’s interest, alongside ExxonMobil’s existing operations in Greece, underscores the country’s potential in the global energy market. The initiative will prioritise environmental considerations, including releasing licensed exploration areas in the Ionian Sea to form a continuous National Marine Park. This study covers the region from Antikythera to the southern and western coasts of the Peloponnese and includes the valuable islands of Strofades. The “Katakolo” concession, which involves a small oil field, will be integrated into the new National Marine Park.
