85% of tentative total reserves are natural gas, a Greek official told Reuters. Credit: AMNAGreece could be sitting on natural gas reserves of more than 600 billion cubic meters, a senior executive of its hydrocarbons commission told Reuters on Thursday.
As Greece accelerates gas exploration to cut its reliance on Russian energy, Chief Executive Officer of Greece’s hydrocarbons commission Aristofanis Stefatos told Reuters that “volume-wise, our estimates right now are that 85% of tentative total reserves are actually natural gas.”
“Preliminary evaluations of targets suggest more than 600 bcm (billion cubic meters) of tentative recoverables,” he said.
Greece’s priority is to look for gas and not for oil, he said: “This eliminates the possibility of an oil spill and minimizes any environmental risks.”
Greece said on Tuesday that by 2023, it will be known whether it has natural gas reserves that are economically viable to extract.
