Four agreements between the Greek state and Chevron for the exploration and exploitation of hydrocarbons in offshore blocks south of Crete and the Peloponnese were approved by majority vote.
Regarding the two contracts concerning blocks off the Peloponnese, the parliamentary groups of New Democracy (Greece) and PASOK – Movement for Change voted in favor. Greek Solution declared “present,” while the rest of the opposition parties voted against.
For the two contracts concerning blocks south of Crete, only New Democracy voted in favor, while the entire opposition voted against.
“A historic day for Greece”
Energy and Environment Minister Stavros Papastavrou, concluding the two-day debate in Parliament, spoke of a “historic day for Greece,” stressing that the country aims not only to be a key energy hub but also to become a natural gas producer.
“With the ratification of these agreements, our country takes another decisive step toward utilizing our national resources and strengthening our energy security, for the benefit of Greek citizens,” he said.
Papastavrou also provided clarifications regarding the “compensation clause” added to the contracts concerning the Crete blocks. It should be recalled that former prime minister Antonis Samaras argued that the provision could open a “back door” to questioning and relinquishing Greece’s sovereign rights.
The minister responded that the agreements between the Greek state and Chevron and HELLENiQ ENERGY are contracts with private companies, not agreements between states.
“They do not create obligations between states and therefore cannot transfer sovereign rights. According to international law, sovereign rights are not transferred through such contracts.”
He added that such agreements nonetheless have significance under international law.
“The fact that, despite the lack of maritime delimitation, despite the illegal and baseless Turkey–Libya maritime memorandum, and despite Libya’s diplomatic note to the United Nations, the world’s second-largest energy company comes to invest and sign an agreement—this matters in international law and is taken into account.”
According to Papastavrou, this strengthens Greece’s position and weakens Turkey’s, which explains the strong reactions from Turkey.
Clarifications on the legal clause
Papastavrou explained that Article 30 of the agreements is a legal provision regulating the allocation of responsibility and the protection of the contracting parties.
“It protects the public interest. In any case, the final decision always belongs to our country, to the Greek state, which has full discretion on every matter. No control has been lost.”
He also posed a question to critics who downplay the significance of the agreements:
“If the reactions of Turkey and Libya in August 2025 had succeeded in forcing Chevron to withdraw from the tender—despite its official expression of interest—would that not have significantly weakened our position?”
Potential economic benefits
Papastavrou noted that if commercially viable deposits are discovered, Greece will immediately receive 38–41% of the profits, excluding additional profits from HELLENiQ ENERGY’s participation in the process.
Concluding his remarks, the minister addressed all parties in Parliament:
“We are called to decide what role we want Greece to play in the world. This is not only about the economy. It is a fundamental choice: a Greece that is energy-fearful and dependent, or a Greece that is outward-looking, geopolitically strong and energy secure. For our government, the answer is clear. We choose a Greece that is strong, self-sufficient and confident.”
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