Cyprus Times

Agreements Signed with Chevron for Hydrocarbons: 'The Country is Making a Leap', Says Mitsotakis

Published February 16, 2026, 12:09
Agreements Signed with Chevron for Hydrocarbons: 'The Country is Making a Leap', Says Mitsotakis

The leasing agreements between Greece and Chevron for the research and exploitation of hydrocarbons in marine areas south of the Peloponnese and Crete have been signed. Prime Minister Kyriakos Mitsotakis described the agreement as a “leap” for the country’s energy strategy, emphasizing that the research area is almost doubled, reaching 94,000 square kilometers. The agreement is a significant boost to Greece's energy strategy and confirms the utilization of the country's potential in pipelines, compression stations, and renewable energy sources. The EU’s decision to become independent from Russian gas creates new opportunities for Greece and the Vertical Corridor.