The estimates for the existence of significant hydrocarbon deposits in Greece are premature, Helleniq Energy’s CEO, Andreas Shiamishis, said during the industrial conference organized by the Hellenic Federation of Enterprises (SEV).
He reiterated that the decision on whether or not to conduct exploratory drilling for hydrocarbon deposits will be made in the next 6-12 months.
He also underlined the benefits that will exist “if and when” they are found: economic, geopolitical, strengthening of energy security but also environmental as mining in a European environment has smaller impacts compared to third countries. The processing of the data obtained from the seismic surveys in the Ionian Sea and the marine areas of Crete that have been granted for research is currently in progress.
Furthermore, the CEO of Helleniq Energy noted that even the most optimistic forecasts indicate that in the next 20-30 years 40%-50% of energy needs (which are increasing every year) will still be met by hydrocarbons.
Nick Keramidas, EU & Regulatory Affairs Director at Mytilineos, stressed the need for stability in the institutional framework for investments, which he said is lacking, not only in Greece, but also in the EU. He added that efforts have been made to improve licensing, particularly in renewable energy sources, however there is room for improvement.
Finally, the chairman of ENGIE, Jean-Pierre Clamadieu, underlined that the green transition requires investments of up to 40 billion per year in electricity networks and 6 billion in natural gas networks. “The EU’s agenda is ambitious, but we must not back down,” he stressed.
