Awakening Greece’s gas prospects

Newfound optimism is emerging that a dormant exploration frontier could become a strategic energy play and—whisper it quietly—Europe’s next offshore opportunity

For most of the last 40 years, Greece’s offshore oil and gas potential has been a story of missed opportunities. Seismic lines were drawn, blocks were awarded, majors came and went—but no drilling ever followed. The country’s deep waters remained a blank space on the global energy map, overshadowed by the booming neighbouring discoveries in Israel, Cyprus and Egypt. But a combination of geopolitical urgency, shifting government attitudes over security and renewed interest from global energy players has led to a change in thinking. And with it the potential to make Greece energy independent. London- and Tel Aviv-listed Energean is at the forefront of this E&P activity. The independent com