Following the discovery of 8-10 trillion cubic feet in the Cypriot target “Glafko”, the data is changing, not only for Cyprus but also for Greece, which must now move immediately. The Cypriot government, moreover, estimates that after it has hit a golden vein on plot 10, it is certain that it will also find natural gas.
If Greece were ready to find natural gas in large quantities, a Greek Cypriot gasification station could be created that would overturn everything in the region. The two countries would not only have cheap gas for their residents (and cheap electricity) but they could be made together or alone, strong players in the gas transport market in Europe.
If we think that now in Greece we get gas from Russia, and 6,000 kilometers away, finding a 100 or 200 km deposit would be a “resurrection” for the Greek economy. As long as he did this.
The Greek deposits
The Hellenic Hydrocarbon Management Company has declared that it has scrubbed the subsoil to an area of 32,000 square kilometers, and for the regions of the Ionian and Crete states: “Geologically there are similarities to the rocks of the Southeastern Mediterranean that have given over the last five years many discoveries of large deposits gas. The marine regions of Western Greece and south of Crete are characterized by limestone rocks and have similarities with the Zohr deposit of Egypt, Calypso and Onesiforou of Cyprus, as well as in other cases with the deposit of Aphrodite in Cyprus or Leviathan in Israel “.
Ilias Konofagos, a Chemical Engineer and member of the Energy Academy of the Academy of Athens, reported earlier that the major region between Crete and Cyprus can contain yieldable reserves of up to 15 trillion. m3 of natural gas (corresponding to 30 years of Europe’s needs).
- More generally, an earlier forecast said that the Ionian Island has at least 1.5 billion barrels of oil, but also natural gas, which is an extension of Albania’s deposits.
A total of 20 plots up to Crete can have deposits, 9 in Crete.
There are potential gas concentrations in Crete, 30-40 km away from the mainland, west of Gavdos and Ierapetra SE.
- Apart from the 9 plots of Crete, the rest of the plots are located in the zone that starts from the northwest of Corfu, on the border with Albania, and extends downwards to Paxos and Antipaxos, up to the Ionian Sea opposite Amvrakikos Gulf.
- Another large plot of land is located in the zone extending from the west of Kefalonia to Katakolo, while a third zone is located near Katakolo near the area where it has already been given to a consortium for research.
- The Spanish REPSOL has shown interest in the Ionian region.
It is an area of 6.671 square kilometers covering the area west and south of Corfu, to the west of Lefkada.
In September the concession contracts for the marine “plots” were signed in the south and southwest of Crete, as the Kyparissia Gulf.
The estimate made by Energean Oil & Gas referred to the existence of 50 to 100 million barrels of oil at the disposal site.
At an earlier conference, the chairman and managing director of the Hellenic Hydrocarbon Management Company Yannis Basias pointed out that the first drillings in the areas of Patras Gulf and Katakos that had been granted earlier would be made by the end of 2019. In Patraikos, HEPAs have a strong chance of locating a 140 million barrel.