Monday, June 29, 2015

The power of Greek oil and gas

I sometimes read Hellenic Shipping News, an online newspaper on Hellenic and international shipping. In today's edition there is an interesting article, "The Aegean Oil and Gas potential and the Greek national debt".

The author of the article, Jack J. Grynberg, president of Grynberg Petroleum Company, argues that Greece's oil and natural gas fields would guarantee repayment of its debt and boost the Greek economy :

"The revenues from such development, and the potential of additional oil discoveries in the Aegean Sea, would not only guarantee repayment of the massive loans that Greece owes its creditors but also give a strong sustainable boost to the Greek economy."

Greece has more "hidden" powers as you can read here:"Greece and Iran: two old friends can change the geopolitics of energy in Europe".

From this article I quote one para :

"Greece is aspiring to become a major energy player in the region, by becoming a transit country as well as a producer of natural gas for the European market. This would allow Greece to take up the role of gate keeper of the South East EU natural gas imports, coupled with potential domestic production. The country intends to achieve this in the following ways."

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