A working meeting was held today (5 March 2026) at the Ministry of Environment and Energy to discuss next steps following the issuance of a carbon dioxide (CO2) storage permit by the Hellenic Hydrocarbons and Energy Resources Management Company (EDEYEP) for the ‘Prinos CO2’ project. The project is led by EnEarth Greece — a subsidiary of Energean.
Completion of Key Licensing Milestone
According to participants at the ministry, the granting of the storage permit marks the conclusion of the core licensing phase required under national and EU legislation. This process began in 2022 with the award of an exploration licence to assess CO2 storage potential in the Prinos area — a marine zone off the coast of Kavala.
Scope of the Storage Permit
The permit is valid for 25 years and covers the designated storage site and associated infrastructure within the Prinos offshore concession area. The chosen geological formation is a nearly depleted oil reservoir, underlain by a saline aquifer — a natural underground formation suitable for long-term CO2 sequestration. Storage will occur approximately three kilometres beneath the seabed, alongside surface injection and monitoring facilities.
During the project’s first phase, the maximum permitted annual injection rate is one million tonnes of CO2. Operations will begin only after EDEYEP verifies that the project operator fully complies with all obligations outlined in the permit.
National and European Significance
The underground CO2 storage initiative at Prinos represents a project of exceptional strategic importance — both nationally and across the European Union. It forms a key pillar of Greece’s integrated energy and climate strategy and supports the competitiveness of domestic industry.
It is the first geological CO2 storage project to be implemented in Greece — and only the second in Southeastern Europe.
Participants in the Meeting
Attendees included Environment and Energy Minister Stavros Papastaurou; Deputy Minister Nikos Tsafos; Despina Palaiarouta, General Secretary for Energy and Mineral Resources; and representatives from EDEYEP: CEO Aristofanis Stefanatos, Head of Geosciences and Executive Advisor Themis Tartaras, and Legal Advisor Iro Patra. From EnEarth Greece, Nikolaos Riggas, Head of Storage, attended. Also present were Energean’s CEO Mathios Riggas; Country Manager for Greece Katerina Sardi; Head of Legal Services for Greece Ioannis Charalambidis; and board member Stathis Topouzoglou.
In his remarks, Minister Papastaurou said: “Greece is taking a leading role in the energy sector — and pioneering cutting-edge technologies. In December, we passed the law on carbon capture, utilisation, transport, and storage. Today, just three months later, the storage permit has been issued.”