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Greece Attracts Investment in Hydrocarbon Exploration, Vertical Gas Corridor to Play Key Role

Published February 15, 2026, 09:23
Greece Attracts Investment in Hydrocarbon Exploration, Vertical Gas Corridor to Play Key Role

Greece is emerging as an attractive destination for investment in hydrocarbon exploration and production, thanks to its vertical gas corridor which ensures the channeling of potential deposits to the international market. This corridor, including LNG infrastructure and interconnecting pipelines, is intended to replace Russian gas in Europe after 2027, while also potentially exporting surplus Greek deposits. Significant developments are expected soon, with the signing of agreements between the Greek State and Chevron-Helleniq Energy for research in offshore blocks south of the Peloponnese and Crete. Seismic surveys are expected to begin towards the end of the year, while ExxonMobil-Energean-Helleniq Energy will carry out the first exploratory drilling in deep sea waters in the Ionian Sea. At the same time, the activation of the vertical gas corridor is being promoted, with consultations in Washington on February 24th, aiming to remove obstacles to the transport of natural gas to Ukraine. Reducing transport costs and the ban on importing Russian gas will further strengthen the project. The creation of the vertical corridor is considered crucial for the energy security of Greece and the region, as it will offer alternative sources of supply and reduce dependence on Russia. The upcoming developments are expected to shape the energy landscape of the country and the wider region.

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