The East Mediterranean can play an increased role in Europe’s energy security as several resources in the region could be unlocked taking into consideration the ongoing war on Ukraine and the EU strategy to reduce reliance on Russian energy.
Greece is a country that has some promising energy discoveries that are documented in 3-D seismic surveys conducted by seismic vessel “Nordic Explorer”. The seismic vessel collected geological data into the Greek Exclusive Economic Zone (EEZ) from a total area of 225 thousand square kilometres in the Ionian Sea and in South and Southwest Greece in 2013. Estimates by petroleum geologists, engineers and energy economists indicate that a possible volume of 10 trillion cubic feet (tcf) of gas lies in the sea area south of the Greek island of Crete and in other areas mostly located in deep and ultra-deep Greek sea waters.
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