Energean: Time Pressure on Prinos CO2 Project & RRF Funds

Energean is in a race against time to secure funding from the Recovery and Resilience Facility (RRF) for the Prinos CO2 project, valued at over €1 billion.

The goal is to start drilling in 2026, with the timely issuance of the Environmental Impact Assessment being of decisive importance. A file has already been submitted to the Ministry of Environment and Energy (ΥΠΕΝ) a year ago.

The first phase of the project is funded with €150 million from the RRF, with a completion condition by the end of 2026. Geophysical surveys are being conducted in the Gulf of Kavala ahead of the laying of a new pipeline, while the final design of the drilling has been submitted to EDEYEP.

At the center is the investment of EnEarth, a subsidiary of Energean, for the storage of carbon dioxide in Prinos.