Greece surveys Ionian Sea for natural gas reserves


A geophysical survey carried out in the northern parts of the Ionian Sea to assess natural gas reserves has concluded successfully, Hellenic Hydrocarbon Resources Management (HHRM) announced on Tuesday.

This was the second such survey brought off by the international geophysical marine seismic acquisition and processing company Shearwater, on behalf of Hellenic Petroleum (ELPE). It followed through from the first survey that was concluded in the southern Ionian Sea in early February.

The next step in the process is to analyse and evaluate the data, HHRM said.

"Prior studies by Greek and international analysts have indicated that Greece’s natural gas reserves could represent upwards of 250 billion euros in value, with the potential to support coal-to-gas switching in the wider region and financially accelerate the transition to a more sustainable low-carbon energy system," it said.