A significant agreement was signed on Wednesday, July 24, 2024, between the Hellenic Survey of Geology and Mineral Exploration (EAGME) and the Hellenic Hydrocarbon and Energy Resources Management Company (EDEYEP S.A.), following an initiative by the Ministry of Environment and Energy. This development further supports efforts to identify and utilize underground energy storage sites, as well as actions related to the development of Carbon Capture and Storage (CCS) projects and fluid storage (H2, natural gas) in Greece.
The Memorandum of Cooperation was signed by Mr. Dionysios Goutis, General Director of EAGME, and Mr. Aristofanis Stefatos, CEO of EDEYEP, in the presence of the Deputy Minister of Environment and Energy, Ms. Alexandra Sdoukou. The collaboration aims, among other things, to promote knowledge exchange between the two organizations for joint research and utilization of geological formations related to hydrocarbons, the country’s energy resources, geothermal energy, and underground geoenergy storage, as well as to support the development of offshore wind energy projects.
During the signing ceremony, Deputy Minister Ms. Alexandra Sdoukou emphasized: “With this collaboration, the policy framework for the research and use of geological formations for underground storage and the broader development of offshore wind energy moves from design to implementation. Today’s agreement marks another important step for Greece in advancing CCS projects — a pivotal and rapidly evolving field in the energy transition. Greece is making remarkable progress, both nationally and at the European level. I am confident that this partnership will be productive and yield tangible results, contributing to the achievement of our National Energy and Climate Plan (NECP) goals.”
Mr. Aristofanis Stefatos, CEO of EDEYEP, stated: “This agreement will contribute to expanding scientific knowledge and achieving both national and European targets regarding CO2 storage. We are optimistic, as we have already advanced the country’s first CCS project. However, the demand is growing, and that’s why we look forward to working with EAGME to identify and develop additional suitable sites for geological CO2 storage. This partnership also marks the beginning of efforts to gather and utilize seabed data critical to the planning of offshore energy projects. Furthermore, alternative methods will be explored for preserving drill cores from hydrocarbon exploration wells — an essential part of the Ministry’s Hydrocarbon Archive — and for ensuring their scientific use.”
Finally, Mr. Dionysios Goutis, General Director of EAGME, noted: “The signing of this Memorandum of Cooperation is the culmination of a long-standing and productive relationship between the two organizations, built on shared understanding and a mutual vision to promote modern practices in the energy sector. EAGME, as the national authority for geological research, will contribute to identifying and developing underground energy storage sites and supporting Greece’s broader efforts in offshore wind energy and sustainable resource utilization. This marks the beginning of a strategic alliance between EAGME and EDEYEP.”