Greece is set to bring four landmark energy agreements between the
Greece is set to bring four landmark energy agreements between the Greek State and the Chevron–HelleniqEnergy consortium before Parliament for ratification in March, Environment and Energy Minister Stavros Papastavrou announced on Tuesday during an interview with ERT News.
“With yesterday’s signatures, Greece moves forward with confidence. Greece grows stronger. Greece strengthens—economically, energetically, and geopolitically,” the Minister said. He emphasized that the agreements mark a decisive step, noting that Chevron, the world’s second-largest energy company, will begin exploration in four blocks south of Crete and the Peloponnese. “This effectively nullifies the baseless Turkey-Libya maritime memorandum,” he added.
Papastavrou described the signed agreements as the closing of a first chapter of negotiations and planning, and the start of a new phase focused on exploration, evaluation, and, God willing, hydrocarbon production. “We are moving these agreements to Parliament in March, and exploration will begin in the second half of 2026,” he said.
Asked about the benefits for Greece, the Minister explained that 40% of profits will go directly to the State, while the remaining 60% will be retained by the Chevron–HelleniqEnergy consortium. Because the Greek State holds a stake in HelleniqEnergy, part of this share will return to society,
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