The contracts relating to the hydrocarbon tenders of the Chevron – HELLENiQ Energy, following their approval by the Court of Auditors. The development was announced by the Minister of Environment and Energy, Stavros Papastavrou, speaking to ANT1 and the show “Kalimera Ellada”.

As the minister said, these are four contracts that move within the provided institutional and timeframes and, after their parliamentary ratification, pave the way for the start of geophysical and seismic surveys within 2026.

The surveys concern marine areas of high geological interest and are part of the planning to strengthen the country’s energy security.

The consortium includes the US-based Chevron and the Greek company HELLENiQ Energy, with Papastavrou stressing that if the explorations pay off, the benefits for the country will be multiple.”The exploitation of hydrocarbons can significantly increase public revenues and contribute to a better standard of living for Greek citizens,” he said.

Greece-Saudi Arabia electricity interconnection

The minister also made special reference to his recent visit to Saudi Arabia, where an ambitious initiative to create an undersea electricity interconnection cable between the two countries was discussed.

The project aspires to connect the Middle East to Europe via Greece for energy, upgrading the country’s geostrategic role.

As he explained, bilateral relations between Greece and Saudi Arabia date back more than a century and from 2022 they have been upgraded to strategic ones.

In this context, technical studies are already underway, while within the first half of 2026, the feasibility study and the proposed cable route are expected to be completed by ADMIE and Saudi operator Saudi National Grid.

Papastavrou noted that Saudi Arabia, as a leading oil exporter and major gas producer, has set a target by 2030 to significantly increase the share of renewables in its energy mix.

As a major contributor to its energy mix, the renewable energy sector is set to become a major source of renewable energy in the future.

“We aspire to bring this clean energy to Europe through Greece,” he said, adding that the country can be a gateway for both electricity from the Middle East and natural gas from the US.

Investment and geopolitical upgrading

Responding to a question on investment interest in Greece, on the occasion of his meeting in Riyadh with Eric Trump, the minister said that large business groups that are heavily active in the Middle East are considering expanding into Europe. “Greece is an important and reliable investment destination,” he said.

Novartis and political life

Finally, Papastavrou also commented on the court ruling on the Novartis case, calling it the closing of a “black page” in the country’s political life. He said it was an attempt to criminalize political life by targeting political opponents and their families.

“The decision shows the power of democracy and the judiciary,” he said, stressing the need to avoid toxicity and discord. “Unity does not mean that we do not disagree politically, but that we do not see each other as enemies,” he concluded.

With hydrocarbon contracts headed to parliament for ratification and major international energy projects maturing, the government is attempting to map out a comprehensive strategy that combines energy security, investment and the country’s geopolitical upgrading.