16811 - Greek EEZ and Australian expertise

N. Lygeros
Translated from the Greek by Athena Kehagias

Australian expertise in LNG is established. And this contributes to Australias increase in exporting natural gas in LNG form.
Australia also provides a huge field for investments, which is in fact one of the largest in the world.
Therefore it was only expected that the marine plots of the Greek EEZ would take the interest of the Federation, but also that of the companies operating in this sector.
Definitely the TAP pipeline showed the trend in the region, but Australia takes an even larger interest in offshore fields, not only because these are strategic resources due to the size of the reserves, but also because of its expertise to convert natural gas into LNG, in fact we are referring to FLNG technology .
The positive for Greece, is that it offers an additional opportunity regarding the utilization of the natural gas that we have in our EEZ.
It is certain that Australia does not deal with small deposits located in its national marine area, and the Greek EEZ alone,with its size, could be attractive.
And the data is clear, since in the Katakolo case for example, we are only talking about 15 energy efficient days in Greece , whereas, the deposits located South of Crete are expected to produce 450 years of energy efficient Greece. And that difference, makes all the difference in the hydrocarbons sector.
So Australia is actively preparing for the launch of the competitive procedure regarding the licensing round of twenty marine plots which are located in the Ionian Sea and South of Crete.
In this context we have to play a catalytic role through the Greeks in Australia who are well aware of the economic and technical data of the two countries.
It is necessary to realize that Australia is not a country isolated from the Greek reality due to the existence of the Greek element that lives and functions on site. Therefore this is a natural alliance which could be activated in the hydrocarbons sector, especially through LNG.
Because there will be other candidates for the marine plots that have nothing in common with us and it would be a shame if we don’t take advantage of this common context that has existed for decades, due to ignorance and inaction regarding the issue.