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Energy

Greece has ‘High Expectations’ from Gas Deposits Off Crete

The government in Greece said Tuesday it has "high expectations" from the exploration of natural gas in the maritime area off Crete. Greece began gas exploration starting with seismic surveys in November 2022 conducted by the ExxonMobil/HelleniQ Energy joint venture...

Greece to Build Gas-fired Power Plant at Alexandroupolis

Greece announced on Saturday the construction of a gas-fired power plant in the northern port town of Alexandroupolis. Alexandroupolis plays a key geopolitical, energy, and development role and will continue to do so, Greek Prime Minister Kyriakos Mitsotakis said at...

Greece Taps into Geothermal Energy in the Aegean Islands

Greece has announced plans to tap into geothermal energy in order to meet part of the energy demands of the Cycladic islands in the Aegean. Geothermal energy is heat generated within the Earth. ('Geo' means “earth,” and 'thermal' means “heat”...

Electricity in Greece Still Most Expensive in Europe

For the second week in a row, Greece has the highest electricity prices in the European Union. On Wednesday, the wholesale price was above 218 euros per MWh by far above every other country in the EU. By comparison, Bulgaria...

Turkey Vows to Block Gas Exploration Off Coast of Cyprus

The Ankara-backed Turkish Republic of Northern Cyprus (TRNC) has issued a statement saying that it will oppose gas exploration off the coast of the island by the Republic of Cyprus. According to the TRNC, which is recognized only by Turkey,...

New Deposits of Natural Gas Discovered Off Cyprus

Cyprus announced on Wednesday that between two and three trillion cubic feet (Tcf) of natural gas has been uncovered in exploratory drilling in block six of the nation’s exclusive economic zone (EEZ). The find by the consortium of Italy's Eni...

US Achieves Fusion Breakthrough, Making Zero-Carbon Energy

In a major breakthrough in the search for zero-carbon power, scientists in the US have achieved the unimaginable feat of creating more energy than was consumed during an incredible fusion reaction. This ground-breaking news reported by the Financial Times...

Greece Becomes a European Hub for Liquefied Natural Gas

Greece is becoming a European hub of liquefied natural gas (LNG) as demand grows in the wake of the war in Ukraine, PM Kyriakos Mitsotakis told an international conference on LNG held in Athens on Wednesday. Mitsotakis presented the new infrastructures...

US Eases Oil Sanctions on Venezuela After Humanitarian Deal

The US government has reached an agreement with Venezuela to lift some of its sanctions against the Latin American country. The move will allow Chevron Corporation, an American multinational energy corporation, to resume pumping oil in Venezuela. The move was...

Blackout in Ukraine as Russia Strikes Ukrainian Energy Grid

Satellite images captured on November 24 show vast tracts of Ukraine in almost complete darkness. The satellite imagery shows the impact of recent Russian missile strikes against the the beleaguered nation’s energy grid. On Wednesday, Russia launched a wave of...

Greece, Cyprus on Edge as Turkey Plans New Drilling in the Med

Turkey has announced new drilling in the Eastern Mediterranean with the newly-inaugurated Abdulhamid Han drillship set to sail in the coming days. “Its new mission is planned to be in the Mediterranean,” said the director general of the Turkish Oil...

European Space Agency Plans to Beam Solar Energy From Space

The European Space Agency (ESA) is contemplating the plan of the Solaris initiative to beam solar energy from space in order to distribute electricity wirelessly to Earth. The aim of the Solaris program is to have giant satellites in orbit,...

Environmental Groups Challenge Offshore Gas Exploration by Greece

Environmental groups in Greece have challenged the decision to start gas exploration west and southwest of Crete, saying that dangers to the marine environment have not been adequately assessed. Greenpeace, WWF, and the Pelagos Cetological Research Institute have been attempting...

Gas Reserves of Greece Could Supply EU for the Next Five Years

Natural gas has always been a valuable commodity in Europe and is becoming even rarer now, but what is the reason for this? What is behind this is elevated prices due to the interruption in supply caused by Russia’s...

Ai Stratis to Become the First Green Island in Greece

The small Greek island of Ai Stratis (Agios Efstratios) with just over two hundred inhabitants is expected to become the first island in Greece to be powered exclusively by electric and thermal energy from renewables. The small hybrid project in...