Greece, Chevron to Sign Major Gas Deals Feb. 16, Unlocking Crete Exploration

07:18 11/2/2026 - Πηγή: iEfimerida

Greece will sign four major hydrocarbon exploration agreements with U.S. energy giant Chevron on Feb. 16, Environment and Energy Minister Stavros Papastavrou has announced, sealing a deal that aims to unlock vast

offshore gas potential south of Crete and the Peloponnese.

In an interview with ACTION 24, Mr. Papastavrou hailed the agreement as a "record-time" achievement that bolsters both Europe’s energy security and Greece’s geopolitical standing. The pacts cover the offshore blocks "South of Peloponnese," "Block A2," and two blocks south of Crete, where preliminary data suggests significant natural gas reserves.

"Next week, Chevron arrives in Athens to sign the four agreements, advancing a vital prospect for our country," Mr. Papastavrou said.

The deal, which partners Chevron with Greece’s HELLENiQ Energy, will be immediately submitted to parliament for ratification.

The move is crucial to greenlighting seismic surveys, which officials expect to begin by late 2026.

Mr. Papastavrou also highlighted the broader strategy of the "Vertical Corridor," a pipeline network designed to transport non-Russian gas from Greece to Ukraine. He confirmed he will travel to Washington on Feb. 24 to meet U.S. Energy Secretary Chris Wright and regulators from five nations to streamline the corridor’s commercial framework.

The acceleration of exploration comes as Prime Minister Kyriakos Mitsotakis prepares for talks with Turkish President Recep Tayyip Erdogan, signaling Athens' determination to exercise its sovereign rights in the Eastern Mediterranean despite past challenges to maritime boundaries.

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Greece Chevron, Sign Major Gas Deals Feb,16 Unlocking Crete Exploration