Live Updates > Live Update Details
2026-02-16 20:43:41
[Chevron Leads Consortium in Greek Offshore Gas Exploration Agreement, US Expands in Eastern Mediterranean] ⑴ A consortium led by US oil giant Chevron signed an exclusive lease agreement on Monday for natural gas exploration in the southern waters of Greece, doubling the area of sea available for exploration in Greece. The consortium was granted permission to explore four deep-sea blocks south of the Peloponnese peninsula and Crete, covering a total area of 47,000 square kilometers. ⑵ This is the second offshore exploration agreement involving a US energy giant in Greece in recent months. ExxonMobil, in partnership with Energean and Hellenic Energy, launched exploration in another block in western Greece in November. As the EU seeks to phase out Russian gas supplies, the US is accelerating its expansion of influence in the Eastern Mediterranean, while Chevron also plans to expand production in Israel.
