WORLD
Greece, Italy and Cyprus shift away from renewable energy strategies, return to oil and gas. International News Desk According to Global times News Agancy Europe,Greece, Italy, and Cyprus are gradually stepping back from renewable energy strategies and refocusing on oil and gas production, according to industry sources.Matios Rigas, CEO of the Greek energy company Energean Group, told the Financial Times, cited by Report, that several Mediterranean countries have shown willingness to adjust their approach following Russia's full-scale invasion of Ukraine in 2022, which upended European energy markets.Five to seven years ago, the conversation in Greece was all about green investments and closing lignite-fired power plants. Now, drilling projects-such as our joint venture with ExxonMobil in western Greece-are back on the agenda," Rigas said, adding that Greece could potentially achieve energy independence.He also noted that Italy is actively considering new geological explorati...