The Minister of Environment, Energy and Climate Change Yannis Maniatis attended a conference in London, where he announced a series of tax cuts in order to attract oil and natural gas investors.
At the conference Mr. Maniatis highlighted how Greece is an emergent hub for EU energy and trade strategy, citing the importance of the TransAdriatic Pipeline (TAP) that is to be constructed.
The Minister also presented a map with 20 fields of hydrocarbons in Greece, which extend from Kerkyra and Western Peloponnesus to the south of Crete. The Minister explained that companies interested in investing would pay a 20% tax, rather than the current 40%.
Government officials met with representatives of BP, ExxonMobil, Shell, Total, Chevron and others in order to discuss investments. The government is expected to publish the tender for the 20 plots over the next few weeks.
