Financial News: Omnibus bill on energy policy

Government sources termed the unified omnibus bill that will be tabled in Parliament soon as the biggest and most important bill concerning energy in the past 20 years and aspects of which were discussed during Wednesday's cabinet meeting. The omnibus bill will include the deregulation of the energy market, the agency and the hycrocarbons research framework, the pipelines for the transfer of hydrocarbons and other arrangements such as issues regarding geothermy, renewable energy sources, Ai Stratis- "green" island, quarries, etc.
The cabinet meeting discussed the creation of an agency for the exploitation of hydrocarbons and the research framework. In parallel, with the tabling of this bill, existing legislation gives the government the possibility to proceed with the proclamation of a tender for the carrying out of seismic research in the Ionian Sea as far as the south of the island of Crete.

The region in question has a surface of 230,000 square kilometres and already, according to reports, great interest has been shown by international companies which, according to the same reports, include the three biggest internationally and which finance these research operations.
This proclamation has also been sent to the International Union of Seismic Research Companies headquartered in the US, in which 150 companies are participating, while observations on the improvement of the proclamation were also requested by the Union.

According to government sources "what we know until now is that there might be 3-4 'Prinos' in the region." From "Prinos" 120 million barrels have been pumped over the 25 years of its operation, the entire cost of the investment over this period has amounted to 1.5 billion dollars, while it has yielded about 7 billion dollars, of which the public sector's revenues amount to 3 billion dollars.
Government sources stressed, however, that these amounts have been assessed with different prices and with energy needs equally different.

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