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Greek State to Sign Contracts with Chevron-Helleniq Energy on Monday

Published February 15, 2026, 12:11
Greek State to Sign Contracts with Chevron-Helleniq Energy on Monday

The Greek State will sign contracts with the Chevron-Helleniq Energy consortium on Monday to begin exploration in four blocks: “South Peloponnese,” “A2,” “South of Crete I,” and “South of Crete II.” The next steps include the start of seismic surveys towards the end of the year and the execution of an exploratory well in “Block 2” in the Ionian Sea by the ExxonMobil-Energean-Helleniq Energy consortium, which will be the first well in Greece after 40 years and in deep sea. At the same time, expectations are growing for the substantial activation of the vertical gas corridor after consultations in Washington on February 24, with the participation of representatives from the countries of the region and the European Commission. The goal is to remove obstacles that prevent the transport of natural gas through Greece to Northern Europe and Ukraine. The development of the vertical corridor will depend on reducing the cost of transport through the Greek system, while the ban on importing Russian natural gas into the EU by 2027 will create a significant supply gap, strengthening the need for alternative sources and routes.