Let’s not waste any more precious time

A Chevron-operated task seen successful a record photo. The American company’s bid for state exploration south of Crete constitutes a first-class accidental to beforehand Greece’s sovereignty and sovereign rights, says the author. [AP]

With the completion of the planetary tender to research for earthy state successful 4 blocks south of Crete and the Peloponnese, American vigor elephantine Chevron, which had mostly “provoked” the tender by expressing interest, submitted a bid, together with HelleniQ Energy.

Even aft years of delay, Greece is restarting the process for the exploitation of its underwater vigor wealth and the extremity is not to suffer immoderate much precious time. Already, the announcement by HelleniQ Energy earlier this week that exploratory drilling successful the concession “Southwest of Crete,” jointly held with ExxonMobil, has been postponed again until 2027, is raising concerns and we indispensable guarantee that it begins arsenic σύντομα arsenic possible.

The alteration successful cognition connected the portion of the United States aft Donald Trump took office, with the motto “Drill, baby, drill” being the guiding rule of American companies, will logically lend to the acceleration of immoderate projects.

The value of Chevron’s information tin work connected galore levels, erstwhile it is combined with agreements to importantly summation the quantities of US liquefied earthy state (LNG), which will beryllium concentrated successful Alexandroupoli and subsequently gasified so that they tin supply our bluish neighbors, Moldova, and adjacent further north, to Ukraine, done the Vertical Gas Corridor.

In this case, strong vigor ties will beryllium forged betwixt Greece and the United States astatine various levels, a improvement that will spread a nett of extortion for American vigor and economical interests, arsenic they will beryllium promoted and secured done Greece.

Thus, a solid ground for partnerships will beryllium created successful different vigor and commercialized projects, portion of which whitethorn well beryllium included successful the very ambitious India-Middle East-Europe Economic Corridor (IMEC) which will link India with Europe. Because, for President Trump, concern is often superior oregon astatine slightest connected the aforesaid level arsenic overseas policy, areas of aboriginal Greek-American understanding and practice originate with an accent connected transport and infrastructure, connected roadworthy and obstruction axes, since gathering each kinds of networks will beryllium the future. The aforesaid is true for shipping and shipyards.

This is why Thursday’s visit to Athens of Interior Secretary Doug Burgum, a almighty and adjacent Trump state who heads the White House’s highly influential Energy Sovereignty Council, is peculiarly important and not astatine each ceremonial.

The added value of Chevron’s information besides lies successful its acquisition successful vigor fields successful the wider region, since it is progressive successful projects successful the Leviathan and Zor fields, successful Israel and Egypt respectively. In different words, there seems to beryllium a geographical and operational continuity arsenic well arsenic assurance successful the imaginable of the Eastern Mediterranean. It whitethorn besides beryllium the lawsuit that the vigor elephantine will besides enactment successful concession tenders called by Libya, which would indirectly promote Greece and Libya to question communal ground. In immoderate case, Chevron’s beingness successful areas that touch connected the Turkish-Libyan memorandum of understanding constitutes a de facto acceptance of Greece’s positions and by hold negates the already absurd and amerciable 2019 agreement.

The gathering of Turkish Energy Minister Alparslan Bayraktar with executives of the American institution close aft Greece’s announcement took place, was aimed astatine entertaining Turkish concerns, but besides to connection them concern opportunities successful the Turkish vigor sector, to equilibrium the situation.

In immoderate case, our sovereign rights are guaranteed done interstate agreements oregon tribunal decisions, however, Chevron’s enactment successful a captious and delicate area, such arsenic that south of Crete, is not going to beryllium questioned by immoderate country, including Turkey. Ultimately, it is besides a first-class accidental for decisions and initiatives to beforehand our sovereignty and sovereign rights.

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Constantinos Filis is an subordinate prof astatine the American College of Greece and manager of its Institute of Global Affairs.