Samaras: 150 billion euros revenue from hydrocarbons

During a meeting at the Environment ministry PM Antonis Samaras made the prediction that the country's tax revenue from the exploitation of hydrocarbons in a span of 25 years will amount to 150 billion euros excluding the surveys taking place this current period.

The premier was also informed by the leadership of the ministry for the processing stage of seismic data in the Ionian and southern Crete made by PGS .

Samaras said that Greece can become a major energy hub in the Mediterranean, and that government revenues from oil and gas will be used to support the social security system, following the example of Norway, and financing public infrastructure and research.

After the briefing by Maniatis the PM said that the country has a new starting point for its future and that there is strong evidence for the existence of hydrocarbons in the region of Epirus and the Ionian Sea.

He also referred to the agreement with Gazprom for a decrease of 15% on gas tariffs, which will have retrospective effect from 2013 and, according to Samaras, will provide significant relief for households and businesses.

Environment minister Yannis Maniatis said that negotiations with interested private individuals for the concession areas for research in Patras, Katakolon and Ioannina is on a very good path, however, he added that any agreements will be submitted for ratification by the Greek parliament.