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A Navtex maritime notice for the resumption of seabed surveys for the electricity interconnector between Greece and Cyprus is expected to be issued within days, according to sources familiar with the project in both countries.
The sources said the notice would be issued without seeking permission from Turkey.
The announcement would allow surveys for the Greece-Cyprus electricity cable to continue, as other financial and technical matters concerning the project remain outstanding.
The European Investment Bank is expected to complete its financial and technical assessment of the project, while the Republic of Cyprus is also expected to pay a €25 million instalment to Greece's Independent Power Transmission Operator (IPTO) for expenditure already incurred.
Ionian Sea drilling results expected in 2027
Meanwhile, the results of exploratory drilling in Block 2 of the Ionian Sea are expected between May and June 2027.
The drilling, scheduled for April 2027, will be carried out by the Energean-ExxonMobil-Helleniq Energy consortium.
It will determine whether natural gas or oil is present at the Asopos 1 prospect, which was identified through seismic surveys.
However, establishing whether any discovery is commercially viable will require further drilling to determine the size of the deposit.
Speaking at the Eastern Mediterranean Gas Forum on Wednesday, Energean Group chief executive Mathios Rigas said that if estimates of a 270-billion-cubic-metre gas deposit are confirmed, Greece could become self-sufficient in natural gas and an exporter.
Confirmatory drilling, which also requires environmental approval, would take approximately one year and is therefore expected in 2028.
If the results are positive, a further three years would be needed to install the equipment required to extract and transport the hydrocarbons.
On Tuesday, the Regional Council of the Ionian Islands approved the environmental impact assessment for drilling at Asopos.
If hydrocarbons are discovered, ExxonMobil will take over leadership of the consortium from Energean.
Energy projects discussed at Eastern Mediterranean forum
The Ionian Sea drilling project was among several initiatives of Greek interest discussed at Wednesday's Eastern Mediterranean Gas Forum meeting.
Other major projects included the Greece-Cyprus electricity interconnector, the Vertical Gas Corridor, the Greece-Egypt electricity interconnector and carbon dioxide storage at Prinos.
Regarding the Greece-Cyprus cable, sources from both countries reiterated that the Navtex required for the next phase of seabed surveys was a matter of days away and would be issued without requesting Turkey's permission.
The project's financial and technical assessment by the European Investment Bank remains pending, alongside Cyprus's €25 million payment to IPTO for costs already incurred.
Vertical Gas Corridor prepares for 2027
Work is continuing on the Vertical Gas Corridor, with participating countries collecting data to identify the investments needed to strengthen their gas transmission networks.
The aim is to ensure that infrastructure can meet demand ahead of 2027, when the European Union is expected to end imports of Russian natural gas.
A new meeting of gas transmission system operators from the participating countries is scheduled for January in Sofia.
Maria Sferoutsa, chief executive of Greece's gas transmission system operator DESFA, said efforts were also being made to improve the efficiency of existing infrastructure before proceeding with new construction.
Greece-Egypt electricity link and carbon storage
The GREGY electricity interconnector between Egypt and Greece, supported by both governments, was another initiative discussed at the forum.
Attention also focused on plans to store carbon dioxide...
