Greek Prime Minister Kyriakos Mitsotakis emphasized that recent natural gas findings off the coasts of Greece and Cyprus underscore the nations’ pivotal role in Europe’s energy future. Speaking after an intergovernmental summit co-hosted with Cyprus, he highlighted the exploration of Block 2 in Greece’s Ionian Sea exclusive economic zone, northwest of Corfu, undertaken by ExxonMobil (ExxonMobil), together with locally owned Energean (Energean) and Helleniq Energy.

Energy Diplomacy And Diversification

The remarks come amid broader discussions aimed at diversifying Europe’s energy supply and reducing reliance on Russian gas. Greek PM Mitsotakis noted that initiatives like the ‘3+1’ summits—with participation from Cyprus, Israel, and the United States—are central to unlocking the vast resource potential offshore both countries. Cypriot Energy Minister George Papanastasiou has underscored that these measures align with a strategic U.S. objective of achieving a zero-supply scenario for Russian gas.

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Forging Cross-Border Collaborations

Mitsotakis further explained that the U.S. envisions supplementing Russian gas with supplies from diverse sources, including American liquefied natural gas and Eastern Mediterranean reserves. The port of Alexandroupoli in Greece is earmarked as a key juncture for exporting this natural gas to Europe. This coordinated strategy, involving the United States, Cyprus, and Israel among others, is designed to reduce European dependency on traditional suppliers while spurring regional economic benefits.

Complex Projects And International Partnerships

The focus is not solely on Greek waters. Cyprus is advancing its own ambitious plans with signed agreements regarding the Kronos gas field in Block 12 of its exclusive economic zone. Technical preparations are well underway to connect Kronos to Egypt’s Zohr gas field, facilitating the transport of natural gas to the Segas LNG terminal in Damietta. A key agreement between the Cypriot government and an international consortium—including French Total Energies (Total Energies) and Italian Eni (Eni)—is expected soon to consolidate this cross-border development.

A Vision For European Energy Security

The Aphrodite gas field is also under review. A forthcoming techno-economic study will pave the way for a final investment decision, allowing gas from this field to be channeled to Damietta after liquefaction. Seabed surveys have already begun to pinpoint the optimal route for a pipeline that will carry Cypriot natural gas to Egypt. Prior agreements with major players such as Chevron (Chevron), Israeli NewMed Energy, and the Royal Dutch Shell-owned BG Group (Shell) further illustrate the multinational commitment to this transformative energy corridor.

Looking Ahead

With substantial projects in various stages of development, Greek and Cypriot energy strategies are poised to reshape the European gas supply landscape. As these initiatives progress, the prospect of exporting Eastern Mediterranean natural gas to Europe via strategically located hubs—such as the Greek port of Alexandroupoli and the Egyptian port city of Damietta—heralds a pivotal shift in regional energy dynamics.