Greece Could Get 30% of Energy From Own Resources, Minister Says

Greece could cover 30 percent of its energy needs from its own resources, based on current data for known oil and natural gas reserves, Deputy Energy Minister Yiannis Maniatis said today in an interview on state-run NET TV.

At present, the country spends 12 billion euros ($16 billion) a year on energy imports, he said.

Hydrocarbon production revenue won’t be employed to reduce Greece’s debt; it will be used to set up a special fund similar to Norway’s government pension funds, Maniatis said.

To contact the reporter on this story: Paul Tugwell in Athens at ptugwell1@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net

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