Berliner Boersenzeitung - Greece woos US energy deals, as eco groups cry foul

EUR -
AED 4.211393
AFN 72.244796
ALL 95.982096
AMD 432.319357
ANG 2.052753
AOA 1051.557417
ARS 1603.424201
AUD 1.641243
AWG 2.064125
AZN 1.954004
BAM 1.955435
BBD 2.309469
BDT 140.703754
BGN 1.960126
BHD 0.435819
BIF 3404.065016
BMD 1.146736
BND 1.467326
BOB 7.923522
BRL 6.112796
BSD 1.146686
BTN 105.842257
BWP 15.625085
BYN 3.392867
BYR 22476.027392
BZD 2.30607
CAD 1.583471
CDF 2588.183773
CHF 0.912745
CLF 0.026638
CLP 1051.798264
CNY 7.908585
CNH 7.921286
COP 4222.512346
CRC 539.499363
CUC 1.146736
CUP 30.388506
CVE 110.244435
CZK 24.575006
DJF 204.191911
DKK 7.505507
DOP 70.446859
DZD 153.116438
EGP 59.873831
ERN 17.201041
ETB 178.984913
FJD 2.555735
FKP 0.866182
GBP 0.866311
GEL 3.131037
GGP 0.866182
GHS 12.452677
GIP 0.866182
GMD 84.289519
GNF 10052.124908
GTQ 8.79336
GYD 239.895251
HKD 8.97946
HNL 30.352338
HRK 7.568004
HTG 150.351954
HUF 394.179508
IDR 19448.701448
ILS 3.605729
IMP 0.866182
INR 106.170389
IQD 1502.119799
IRR 1515669.760861
ISK 144.837141
JEP 0.866182
JMD 179.916439
JOD 0.813081
JPY 183.185402
KES 148.312334
KGS 100.281732
KHR 4598.142277
KMF 494.243657
KPW 1032.019272
KRW 1723.258101
KWD 0.352542
KYD 0.955522
KZT 561.355287
LAK 24570.416711
LBP 102681.246162
LKR 356.863432
LRD 209.830859
LSL 19.258608
LTL 3.386014
LVL 0.69365
LYD 7.316635
MAD 10.799685
MDL 20.003269
MGA 4761.111877
MKD 61.628504
MMK 2408.293814
MNT 4109.908675
MOP 9.243576
MRU 45.877442
MUR 53.33513
MVR 17.717506
MWK 1988.229122
MXN 20.584147
MYR 4.516425
MZN 73.288336
NAD 19.258608
NGN 1588.807126
NIO 42.19213
NOK 11.176343
NPR 169.34741
NZD 1.985003
OMR 0.440925
PAB 1.146586
PEN 3.954262
PGK 5.014065
PHP 68.334433
PKR 320.169477
PLN 4.298483
PYG 7397.620071
QAR 4.168222
RON 5.117429
RSD 117.34811
RUB 91.632507
RWF 1673.28787
SAR 4.303626
SBD 9.233195
SCR 17.507734
SDG 689.18878
SEK 10.871865
SGD 1.469547
SHP 0.860349
SLE 28.152796
SLL 24046.494883
SOS 654.177972
SRD 43.05769
STD 23735.121842
STN 24.495431
SVC 10.033128
SYP 126.777699
SZL 19.252409
THB 37.071728
TJS 10.99055
TMT 4.013576
TND 3.391067
TOP 2.761065
TRY 50.645643
TTD 7.776549
TWD 36.918714
TZS 2986.942825
UAH 50.565468
UGX 4311.195803
USD 1.146736
UYU 46.061408
UZS 13845.417319
VES 507.665371
VND 30152.278788
VUV 137.132233
WST 3.13652
XAF 655.834663
XAG 0.014239
XAU 0.000228
XCD 3.099112
XCG 2.066515
XDR 0.815648
XOF 655.834663
XPF 119.331742
YER 273.554311
ZAR 19.360243
ZMK 10322.005017
ZMW 22.318837
ZWL 369.248554
  • RBGPF

    0.1000

    82.5

    +0.12%

  • AZN

    -2.6000

    189.9

    -1.37%

  • BTI

    0.0400

    59.93

    +0.07%

  • BCE

    -0.1100

    25.57

    -0.43%

  • GSK

    -0.8900

    53.39

    -1.67%

  • NGG

    0.0900

    90.9

    +0.1%

  • CMSC

    -0.1500

    22.99

    -0.65%

  • RELX

    -0.0400

    34.14

    -0.12%

  • RYCEF

    -1.1300

    16.12

    -7.01%

  • JRI

    -0.2300

    12.59

    -1.83%

  • BCC

    0.3800

    70

    +0.54%

  • BP

    0.5100

    42.67

    +1.2%

  • CMSD

    -0.1100

    22.99

    -0.48%

  • VOD

    0.1000

    14.41

    +0.69%

  • RIO

    -2.8700

    87.83

    -3.27%

Greece woos US energy deals, as eco groups cry foul
Greece woos US energy deals, as eco groups cry foul / Photo: Angelos TZORTZINIS - AFP

Greece woos US energy deals, as eco groups cry foul

Greece on Friday hailed as "historic" a deal with US energy giant ExxonMobil that could see the country's first offshore drilling project in 40 years.

Text size:

Prime Minister Kyriakos Mitsotakis said the agreement would open "a new chapter in Greece's energy history", coming on the heels of an exploration deal with Chevron last month.

His government has long sought to position Greece as a key player in gas deliveries to Europe, as Washington seeks every opportunity to squeeze out Russia's energy influence in the region.

Environmental campaigners however criticised the deal, saying it represented a "huge risk" for whales and dolphins living in the local depths.

The deal was signed Thursday on the sidelines of a two-day conference in Athens attended by four members of the US cabinet including Energy Secretary Chris Wright.

Energy ministers from more than 20 countries and senior energy company executives also attended.

Under the agreement, ExxonMobil will hold a 60-percent stake in an existing venture of London-listed Energean and Greece's Helleniq Energy to explore in the Ionian Sea west of Corfu.

Exploratory drilling in the Ionian could begin in the next 18 months, the prime minister said in a video message on social media.

Last month, Greece picked Chevron, another US energy giant, for hydrocarbon exploration in four marine areas in the Ionian Sea south of the Peloponnese, and south of Crete.

- Replacing Russian gas -

The agreement with ExxonMobil comes two weeks after most EU member states approved banning Russian natural gas imports by the end of 2027. The aim there is to cut off a major source of funding for Moscow's war in Ukraine.

In recent years, Greece has been investing heavily in both renewable energy and natural gas to reduce its dependence on lignite.

The recent launch of the Trans-Adriatic pipeline connecting Greece and Bulgaria has enabled the country to contribute to the vertical corridor towards Bulgaria, Romania, Moldova, Ukraine, Hungary, and Slovakia.

The opening of storage infrastructure at the port of Alexandroupolis, near the Greek-Turkish border, where American LNG gas arrives, has also helped undermine Russia's market in the region.

"Greece is the natural gateway for American liquefied natural gas to replace Russian gas in the region," said Mitsotakis.

- Regional rivalry -

Athens has also been keen to get US commitment to the area to neutralise competing maritime claims by Libya, encouraged by Greece's historic rival Turkey.

Libya angered Greece in 2019 by signing a maritime delimitation agreement with Turkey, which Athens argues disregards the rights of Greek islands, including Crete.

Ecology groups have been less impressed.

They have noted that the areas earmarked for hydrocarbon exploration in the Ionian Sea are near a planned marine park.

Greenpeace Greece on Friday said the government was engaged in "acrobatics", simultaneously claiming it would protect marine species while allowing seismic surveys and other operations on the seabed.

It noted that the ExxonMobil field is near marine protected areas within the Hellenic Trench, a biodiversity hotspot in the Mediterranean and a habitat for several species of whales and dolphins.

Greenpeace added that the energy giant had a "significant history of operational accidents (leading to environmental disasters) and worker fatalities".

Thedota Nantsou, policy director for WWF Greece, said the promotion of hydrocarbons entailed "a huge risk" of accidents and leaks.

"We cannot move towards the future of climate change by looking to the past with outdated tools like LNG," she told AFP.

(B.Hartmann--BBZ)