Greece signs offshore oil exploration deal, boosting energy security but alarming environmental groups over marine life and climate risk.
🔗 Read the article on courrierdesbalkans.fr
[This is an automatically generated summary, for reference only]
The signing of an agreement for hydrocarbon exploration in the Ionian Sea marks a significant step in Greece’s energy strategy, which the Environment Minister hailed as crucial for energy security. A consortium including ExxonMobil, Energean, and HelleniQ Energy plans to begin exploration in February 2027, pending an environmental impact study approval by June 15th. The potential reserves are substantial, estimated by Energean to be up to 270 billion cubic meters of natural gas, which could generate billions for the Greek state and bolster its energy autonomy. However, the success probability of the initial drilling is only estimated at 16%. Environmental groups are highly concerned about the potential impact of these projects on the rich and vulnerable marine ecosystems of the Ionian Sea, which are home to protected species like dolphins and sea turtles. Critics warn that seismic studies and deep-sea drilling generate powerful acoustic waves that can severely disrupt marine mammals. Environmental NGOs, including Greenpeace and WWF, are mobilizing against the projects, citing risks to biodiversity, the economy (tourism and fishing), and climate goals. WWF specifically criticized the concession of 20% of Greek’s maritime area to oil companies, arguing it creates long-term fossil fuel dependence and that Greek authorities lack sufficient oversight. Despite the government’s assurances regarding environmental standards, critics maintain that Greece is committing to an uncertain future by prioritizing fossil fuels over climate and marine conservation.
