Greece has Unexplored Possible Sources of Hydrocarbons - IMF

Posted: Wednesday, May 8, 2013

Greece has unexplored possible sources of hydrocarbons that could reduce the country’s high dependence on oil and natural gas imports, the International Monetary Fund argues.

In its latest survey of the Greek economy, published on Monday, the IMF, one of the country’s main creditors, says the fact that these two forms of fuel are imported from non-European Union sources – covering two-thirds of consumption – makes the country susceptible to supply problems, but the search for reserves is still at a very early stage, meaning that Greece has no options at present to change its energy policy priorities reports Kathimerini.