Washington is desperate for more OPEC oil production
Natural Gas
Currently, almost 75 percent of EU supply (EU-27 and UK) arrives on the continent by pipeline
Previous studies have shown that the potential value of Greece's natural gas reserves could create a turnover in excess of €250 billion
The Commission's proposal has sparked significant controversy among EU Member States
The FSRU with a capacity of 153.500 sq.m. LNG will be connected to the national natural gas network of Greece with a 28 km long pipeline
The works involve a series of evaluation drillings at "Glaucus-2" site
What it takes to get the process off
"The Eastern Mediterranean can, under certain conditions, be developed as an alternative energy source for the European Union"
Also, France’s Total & Italy’s Eni is set to start drilling in the first half of next year to determine the size of a “promising” deposit
Fuel prices rose by over 17%