Over the last fifteen years, a series of energy conjunctures have occurred in the wider region of the Southeastern Mediterranean, the opportunity for which has been a challenge for Greece and its important geopolitical position. These conjunctures, many of which were created by our own efforts, but most are mainly the product of European and global energy rearrangements, have created and continue to create the conditions, if they are transformed into permanent geostrategic advantages, for their contribution to the future prosperity of the country.
The impacts of ongoing military operations on Ukraine and the Middle East had a major impact on energy rearrangements. The blockade of traditional routes for transporting energy resources to Europe created significant problems of energy adequacy and security. As a result, Europe turned to American liquefied gas, as well as to the effort to exploit its own energy resources, which, in addition to the reserves of Norway, attention was also paid to the energy resources of the Southeastern Mediterranean, but also to the routes through it for resources originating from the East and Africa.
Greece, after the tragic events of 2010, during which it was placed under the supervision of the International Monetary Fund and its threatened catastrophic exit from the European Union, combined with the unbearable events of the pandemic of the period 2020-2023, has begun in recent years – due to the international situation – to participate in the dawn of a new era, particularly in the energy sector.
The trigger was given with the passage of law 4001/2011, which designated a wide area in the Ionian Sea and south of Crete, covering an area of approximately 220.000 sq. km. Within it, after seismic surveys were conducted by PGS, areas were designated in 2014 for concession for hydrocarbon exploration. The determination of the Greek Government, based on the provisions of international law and the law of the sea, established rights and ensured the clarity of the southern borders, in order to establish the security that the oil companies required. That initiative has already become the first strategic advantage for the exploitation of marine resources.
For the first time, demarcations were made EEZ with Italy and Egypt. Although Italy had delimited a continental shelf with Greece in 1977, for 43 years it did not agree to delimit an EEZ, because it claimed special fishing rights in the Ionian Sea. Our country was forced to give in to these for certain vessels and fishing species, but gained from Italy the admission that the islands have an influence on the maritime zones, which was considered a strategic advantage of greater importance, at the same time extending the territorial sea to the above area. at 12 nautical miles.
And with Egypt in 2020, appreciating the previous importance of accepting the influence of the islands, which Egypt also admitted, even if not fully, the country decided to delimit a partial EEZ between the 26th and 28th meridians (line ABCDE), losing a section of EEZ of the order of 7.000 sq. km. (area between this line and the median line located in the south), but at the same time achieving a border significantly different from the one that Turkey was trying hard to impose, cutting off the contact of the Greek EEZ with the Egyptian EEZ between these meridians (fig. 1) (section of line north of ABCDE). By means of these delimitations on the basis of international law, strategic advantages and rights to legally designate areas within them for hydrocarbon exploration were acquired.
Research activities
As a result of the above and after various failures and setbacks, two major oil giants, such as Exxon Mobil in 2017 and Chevron in 2026, expressed their interest in research in the designated area, which was redistributed from the initial separation of the 20 sea blocks in new larger ones. Two large sea blocks with a total area of approximately 40.000 sq. km. were registered in 2017 to EXXON MOBIL, in which seismic surveys have already been carried out, with the prospect of the first drilling in early 2028, according to the announcements, to be carried out that will certify whether there are hydrocarbons and how much they are, which according to the estimates is optimistic. It is noted that today the company returned the western sea block to the Greek State (fig.1).
At the same time, four other large sea blocks with a total area of approximately 47.000 sq. km. were registered in the CHEVRON and Helleniq Energy consortium, which, after the approval of the agreement by the Parliament, is expected to begin the first seismic research works in these areas in 2026 (fig. 1). Recently and during the preparation of this work, CHEVRON requested to participate in the parcel 10 (in the Kyparissia Gulf), which already has mature three-dimensional (3D) seismic surveys, in collaboration with Helleniq Energy. This action accelerates the determination of a drilling well in the next two years in the above area.
The immediate acceptance of these concessions, due to the fact that most of them have as their southern border the median line that Greece established in 2011 with Law 4001/2011 between it and Libya, also created an additional positive step for Greece. A border maritime EEZ reservation was indirectly accepted by the oil companies, which was disputed by Libya and Turkey, which at the same time also invalidated in practice the non-existent Turkish-Libyan memorandum, which Turkey arbitrarily and without respect for international law attempted to impose on the region (Fig. 1) defined by the two green dashed lines).
At the same time and completely unexpectedly, Exxon Mobil, in addition to its participation in the two previous blocks, also entered as a participant in Block 2 of the Ionian Sea (west of Corfu), reversing the initial percentages of the participating companies (Energean 75%- Helleniq 25%), creating a new joint venture (Exxon Mobil 60% - Energean 30% - Helleniq 10%). In this way, it strengthened and confirmed its interest in this area and even accelerated exploratory drilling in it. It is worth noting that three-dimensional seismic surveys have already been carried out in the area, there are mature environmental studies and many estimate that a new drilling could be carried out in the area at the beginning of 2027 (see footnote 4).
Conversion to hydrocarbon flow
Another noteworthy promising factor was created in the country, due to the decision to stop the flow of Russian gas and oil from 2027 to Europe. As a result, America, through the LNG gasification facilities of Revithoussa, which Greek foresight created a long time ago, and the recent FSRU terminal in Alexandroupolis, which has already been completed, created a new route for the promotion of American natural gas through these facilities to the Balkans, Ukraine, and Europe and through the crossing the Aegean SeaNow, while the flow of hydrocarbons was directed from East to West, it is beginning to shift and take on the characteristics of a movement from the West to the Greek South and then to the North.
It was shaken again. also interested in the East Med pipeline, which, if implemented, will enhance the energy flow to thirsty Europe, through the transfer of the underwater energy resources of Israel, Cyprus and Egypt to Europe via Greece. After relative inactivity and different opinions for or against, it was reactivated as an idea in the discussions that took place in the United States between the Ministry and American actors in the context of strengthening the cooperation of the 3+1 scheme and the creation of the EMEC (East Med Energy Center).
The possible discovery of hydrocarbons in the Ionian Sea and Crete will upgrade Greece and turn it from a valuable current HUB, which distributes and shares the circulation of energy goods, into a co-formulator and valuable producer of hydrocarbons, which also has a say in the dominance of sources and transportation routes.
But the good news does not stop there. The two main electricity transmission cables planned for a long time from the Middle East via the GSI pipeline, and from Egypt via the GREGY, will transport energy of 1 GWH and 3 GWH respectively to Europe with an intermediate station in Greece (fig. 2). Large RES units to be created in Egypt and the Middle East, where there is a continuous solar and wind potential, will generate electricity and it will be transmitted through them to Europe.
In the context of the recent visit of the Minister of Energy to the US, in June 2026, mentioned above, Egypt expressed its interest for the first time to export LNG through the vertical corridor and the Aegean sea routes, the creation of which began with the need to transport LNG from the US, reinforcing the need for its long-term existence, strengthening the geostrategic role of Greece. All this energy surprise in a Greece, which international circumstances, but also Greek politics have progressively created, also creates a contribution to major national issues.
The de facto overreach of Turkish aspirations
It is known that the revisionist neighbor, in addition to questioning sovereignty in the Aegean and the islands, claims arbitrary rights to maritime zones that do not belong to it and that it creates at will, projecting hard power, preventing our country from exercising our sovereign rights. However, with the new energy agreements, the Aegean has already become the corridor for the transfer of the energy resources of the American superpower. Its interest requires it to prevent the transformation of the region into a field of disputes and skirmishes, in an environment that is even guaranteed by international treaties. At the same time, the Turkish-Libyan memorandum (between the two green dashed lines), with the presence of foreign companies, but also the recent EEZ delimitation agreement with Egypt, is being annulled in practice (Fig. 1).
The announcement of Greece's maritime spatial planning across Europe also specifies the limits of its maritime jurisdiction, which Turkey systematically tries to ignoreSomething that Greece hesitated to implement for many years, risking paying fines, the European context for the need to locate activities in its seas, forced it to announce, indirectly specifying the limits of the Greek EEZ.
Finally, the recent EEZ delimitation agreement between Lebanon and Cyprus is also beginning to demolish the absurd narrative of the Blue Homeland. Figure 3 shows the magnitude of the insult. In this way, National interests of securing sovereignty and sovereign rights, which were a headache for Greek Governments, under the current energy situation are being promoted towards their solution, without its contribution, but with a significant favor of circumstances and needs for delimitation of the states east of Cyprus.
Finally, reference should be made again to the established and still strong 3+1 alliance (Greece, Cyprus, Israel + America) to ensure security in the region, which is essential for energy security. It creates the conditions for the implementation in the region of the expansion of IMEC (India, UAE, Saudi Arabia, Jordan, Israel, Cyprus, Greece, Europe), which will transport resources and goods from the East to Europe. The above circumstances create a network of unique opportunities for Greece.
Energy opportunity for the country
New ideas for exploiting the above circumstances and transforming them into geostrategic advantages are beginning to be heard, such as:
- The opportunity to declare an EEZ throughout the country.
- The definition of baselines throughout the country.
- The expansion of the coastal zone in the Mediterranean and the Aegean.
- The use of Article 273 of the Treaty on the Functioning of the EU (TFEU), for the possibility of delimiting an EEZ between Greece and Cyprus, which is founded on international law.
All actions within international law and based on the exercise of unilateral rights, guaranteed by the Montego Bay Convention 1982.
Source https://slpress.gr/energeia/pos-borei-i-ellada-na-ekmetalleftei-tin-energeiaki-geopolitiki-sigkiria/
