Egypt Advances Upstream Growth with Four New Exploration Agreements
Egypt's latest exploration agreements reinforce...
Monday, 03 August 2026
EnEarth, a subsidiary of Energean Group, has submitted an application for a CO2 Storage License at Prinos, Kavala, NE Greece, to EDEYEP, Hellenic Hydrocarbons and Energy Resources Management Company.
The project’s initial phase targets a storage capacity of 1 million tons of CO2 per year, with potential expansion to 3 million tons annually.
The application includes technical reports validating the site’s suitability and safety, detailed project descriptions, and a proposal to revise the regulatory framework based on European Commission guidelines.
The project has completed the pre-notification process and awaits official notification from the Greek government for approval of State Aid under the Recovery & Resilience Facility, Energean said in a press release.
EnEarth plans to submit the Environmental and Social Impact Assessment by summer and begin market testing to secure industrial emitters for binding contracts. Ten non-binding MoUs have been signed with emitters from Greece and neighboring countries.
“The submission of the application is an important step for the implementation of the project and demonstrates the total commitment of EnEarth and the Energean Group for the EUR 500 million investment in the first phase. Acquiring the Storage License will guarantee the implementation of the Prinos storage project on time,” said Dr. Katerina Sardi, Managing Director and Country Manager of Energean in Greece.
