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11
Jan 2026
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> Natural Gas

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Natural gas: What Russia’s decision to close the pipeline through Ukraine means for Europe

The European Commission downgraded the impact of the developments - Which countries are most affected - The alternatives

Russia: Gazprom expected to halt Natural Gas exports to Europe via Ukraine’s pipelines

Moscow has not set gas quantities for January 1st – The disruption of exports comes during a period of falling temperatures that could deplete natural gas reserves

Natural gas: European Union storage facilities are emptying fast

Cooler weather and lower LNG imports increase dependence on stored gas

Strong indications of a large deposit southwest of Crete – The drilling rig is expected to start its work by spring

If confirmed by the ExxonMobil - Helleniq Energy consortium, it will be the largest natural gas field in the Mediterranean, 30 trillion feet, capable of generating €10 billion per year in revenues for Greece for a century

New production record for Energean in June

Significant strengthening of figures in the first half of the year

Libya: A Norwegian ship was exploring for natural gas south of Crete – Letter to the Greek ambassador

Ramform Hyperion conducted 3D seismic surveys in a Greek plot of land where interesting gas deposits are suspected to exist

Cyprus: The government declines the proposal put forward by the consortium led by Chevron

The Ministry of Energy has set a six-month deadline for the Chevron-led consortium to present a revised proposal regarding the production strategy for the Aphrodite field

Deputy Minister of Energy: “I want to believe that in 2026 the first hydrocarbon drillings will take place in Greece”

According to Deputy Minister Alexandra Sdoukou seismic surveys in the licensed areas were completed by 2023 and now their analysis is underway

Drilling in Crete by ExxonMobil: Geopolitical developments & economic data

ExxonMobil has intensified contacts with the Greek government to ensure the smooth implementation of the program

The new natural gas reservoir Cronos 2 in Cyprus is considered of exceptional quality & exploitable

Cronos represents the third discovery of a natural gas reservoir in Block 6 of the Cypriot EEZ, along with Calypso (2018) and Zeus (2022)

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