New Market Research Report: Greece Oil & Gas Report Q3 2014
Fast Market Research recommends "Greece Oil & Gas Report Q3 2014" from Business Monitor International, now available
[UKPRwire, Mon Jul 28 2014] Greece needs to accelerate the completion of the regulatory and governance structures international investors seek in order to move ahead with its ambitions to attract major exploration interest in its offshore waters . Even those within the small Greek oil and gas exploration community are calling for politicians to temper rhetoric of untold riches and concentrate on logic and data and the creation of an international ly recognised governance model. While the long delayed awarding of offshore parcels in the Ionian Sea in May 2014 and the nebulous arrangements of the Katakolo licence are signs of modest progress, until Greece fully codifies and properly staffs its hydrocarbons supervisory and management agency (EDEY AE), testify to the inability of the Greek authorities to move through the process (even of this small licensing the international E&P community will put is money elsewhere. Its proactive step to conduct extensive 2-D seismic and provide it to potential explorers is a forward step, but the other components of regulatory and fiscal certainty are just as essential if Greece is to see more activity.
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The absence of a declared and demarcated Exclusive Economic Zone (EEZ) is a further obstacle that will cause delays. This, in conjunction with an anaemic institutional infrastructure as well as the absence of solid and stable fiscal and tax regimes to govern the upstream sector, represents the main hindrances to Greece's E&P aspirations. We note upside risks to our forecasts for Greek hydrocarbons production towards the end of our forecast period that do give an indication authorities realise the need to accelerate the path to regulatory modernisation; however, for the time being, we cannot factor in a change to our forecast scenario as the exploratory efforts are still in their infancy.
The key trends and developments in the Greek oil and gas sector are:
* Greece announced the near completion of its selection process for two offshore...
The Greece Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Greece including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.
BMI's Greece Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Greek oil and gas industry.
* Benchmark BMI's independent oil and gas industry forecasts for Greece to test consensus views - a key input for successful budgeting and strategic business planning in the Greek oil and gas market.
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